Date of Initial Action: 12/15/06
Defendants/Respondents: Cogar Financial Services, Inc. , Gabriel Obadan, Brian Morey, Worldwide Money Express Service
- Desist & Refrain Order
- Complaint for Preliminary Injunction; Permanent Injunciton; Civil Penalties; and Ancillary Relief. Violations of Corporations Code Section 25110 (Unqualified Sales of Securities). Violations of Corporations Code Section 25401 (Fraud in Connection with the Offer and Sale of Securities). Violations of Desist and Refrain Order Issued by the Commissioner (Corporations Code Seciton 25530).
- Default Judgment for Civil Penalties, Restitution and Permenant Injunction Against Defendants GABRIEL OBADAN and COGAR FINANCIAL SERVICES, INC.