Former Rep. Fulton Sheen ordered to cease and desist selling securities
LANSING, MI -- Former state Rep. Fulton Sheen (R) and associates were issued a cease and desist from the Michigan Department of Licensing and Regulatory Affairs' Corporations, Securities and Commercial Licensing bureau (CSCL).
The bureau ordered Shaar 2 LLC, a Missouri-based company with a registered office in Otsego, to cease and desist from selling unregistered securities, according to a news release.
Sheen and Terry Leverett, of Kansas City, were ordered to stop helping the company with selling unregistered securities. Doing so is opposed to the Michigan Uniform Securities Act (MUSA).
CSCL Director Julia Dale said in a statement all securities must be registered or exempt from registration to protect Michigan investors.
Read more: http://www.mlive.com/news/kalamazoo/index.ssf/2017/06/former_rep_fulton_sheen_ordere.html
