Nevada securities violations alleged

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Monday, Sept. 11, 2000 | 11:08 a.m.

The Nevada Securities Division ordered a Las Vegas company Friday to stop operating as an unlicensed broker-dealer and selling unregistered securities.

Bryan Egan, president of BryCar Financial Corp., is alleged to have violated the Nevada Securities Act when he allegedly misrepresented to the company's investors that they could not lose money because the company offered a money back guarantee and secured its investments with bonds.

Egan allegedly held investment seminars -- including one June 22 at Mandalay Bay hotel-casino -- that offered investors securities in the form of "IPO Programs" and "QuickTrade Programs."

Jim Tatum, a BryCar official, said the firm ceased operations and started restructuring prior to the issuance of the state order. "We've also submitted the company to an independent audit to show that the investors' funds are safe," he said.