State of Connecticut Department of Banking

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The Department of Banking News Bulletin 

Bulletin # 2981 - Week Ending April 9, 2021

 

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications.  Any observations you may have are solicited.  Any comments should be in writing to Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten business days from the date of this bulletin.

 

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Order to Cease and Desist, Notice of Intent to Fine and
Notice of Right to Hearing Issued

On April 9, 2021, the Banking Commissioner issued an Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing (Docket No. CF-21-8397-S) against Jax Acquisitions II LLC (the "Respondent") of 2101 Vista Parkway, Suite 125, West Palm Beach, Florida 33411. The Respondent, whose main business was to raise money to acquire and renovate a multi-family property in Jacksonville, Florida, is currently inactive. The action alleged that, beginning in 2010, the Respondent violated Section 36b-16 of the Connecticut Uniform Securities Act by selling unregistered limited liability company units to three Connecticut investors. Jax Acquisitions II LLC was afforded an opportunity to request a hearing on the allegations in the action.

 
      Dated:  Tuesday, April 13, 2021

      Jorge L. Perez
      Banking Commissioner