Goodman & Nekvasil P.A. May Recover Investor Losses – Conestoga Settlement Services LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC, and Michael C. McDermott Ordered to Cease and Desist by State of Wisconsin
State of Wisconsin Orders Conestoga Settlement Services LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC and Michael C. McDermott to Cease and Desist
The State of Wisconsin found that Conestoga Settlement Services LLC is a Delaware limited liability company organized on May 20, 2010 and managed by Michael McDermott. The State of Wisconsin found that Conestoga Settlement Services LLC it is the organizing entity and initial trustor of Conestoga Trust, a Delaware statutory trust which owns the life insurance policies in which fractional interests are sold by agents of Conestoga Settlement Services.
The State of Wisconsin found that during the period of late 2010 through March 201, Conestoga and McDermott entered into Independent Contractor Agreements with approximately 57 Wisconsin Independent Contractor Agents, all of whom agreed to “market products and services of Conestoga” and to refer all suitable clients for Conestoga’s products and services.
The State of Wisconsin found that the California Department of Business Oversight entered into a Desist and Refrain Order with Conestoga and McDermott for omitting material facts and for contracting with unlicensed broker-dealers to offer and sell securities in California for commissions.
The State of Wisconsin also found that Respondents violated Wis. Stat. §551.501(2) when, in connection with the offer and sale of securities to persons in Wisconsin, Respondents omitted to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, including but not limited to the actions taken against Conestoga and its principals by securities regulators in Texas, Utah and California, and that in at least two instances Conestoga has had to take action against insurance companies to enforce its right to payment on matured policies.
Investors in Conestoga Settlement Services LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC, May Recover their Losses with Goodman & Nekvasil, P.A.
If you purchased your Conestoga Settlement Services LLC, Conestoga International LLC, Conestoga Trust Services, LLC and/or Conestoga Member Services LLC investment from a licensed financial advisor, Goodman & Nekvasil, P.A. can help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has filed hundreds of cases against brokerage firms selling high-risk or fraudulent investments such as Conestoga Settlement Services LLC, Conestoga International LLC, Conestoga Trust Services, LLC and Conestoga Member Services LLC and has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of your Conestoga Settlement Services LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC investment
If you incurred losses on your investment in Conestoga Settlement Services LLC, Conestoga International LLC, Conestoga Trust Services, LLC, Conestoga Member Services LLC and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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