The Colorado Division of Securities entered a cease and desist order against a Denver man for violating the securities registration provision of the Colorado Securities Act.
Brian T. Waring, New Equity Now and Proper Investments, all of Denver, were named in the order, said Commissioner Fred Joseph.
The order alleges that Waring sought Colorado investors for his real estate projects by advertising in a local newspaper. He sought investors for foreclosed or distressed homes and promised up to a 19 percent return on their investment.
Waring failed to register his security offering. By his offering the opportunity to the public at large, the staff at the Division of securities believes he was in violation of the state securities law.
“Investors should always be wary of stock offerings promoted through the use of general advertising,” said Joseph. “Investors should contact our office to verify that securities have been properly registered.”
The order prevents Waring from offering or selling unregistered securities in the state of Colorado.