2010-04-23 — realestaterama.com
Attorney General Douglas F. Gansler announced today that his Securities Division has ordered Montgomery County-based WEI Mortgage Corporation, and its principal, Wesley Yuan, to cease and desist violating Maryland’s securities laws. The order charges WEI Mortgage Corporation and Yuan with engaging in the offer and sale of unregistered, non-exempt securities in the form of “FPP†or “Funding Participation Program†promissory notes, while misrepresenting to investors that the FPP notes were not securities investments, and that the investments involved “little to no risks.â€
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