Company ordered to stop securities sales

Friday, Feb. 22, 2002 | 9:45 a.m.

A Florida company and five of its agents have been ordered to stop selling securities in Nevada.

The state Securities Division issued a cease-and-desist order Thursday forbidding Allstate Finance and agents James McCarn, Ray Bliese, Richard Coyer, Carolyn Loizzo and Laura Walls from selling securities in the state.

The division said sales representatives sold promissory notes issued by the company to Nevada investors. Bliese, Coyer, Loizzo and Walls are licensed as insurance agents, but not registered as securities sale representatives.

Deputy Secretary of State Pamela Ashworth said she did not know how many unregistered securities were sold or the location of the company's Nevada office.

Representatives of the company could not be reached for comment.

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