WA securities regulator final order naming a team member (Aug 1, 2018)
Washington State Department of Financial Institutions, Securities Division (DFI) issued a Final Order dated Aug 1, 2018. Respondents as listed: Timothy Dion Wetzel; Wetzel Oil Inc.; Wetzel Energy Technology Company Inc.; and Better Fuel North West, A WETCO Company, Inc.. Outcome as listed: On August 1, 2018, the Director of the Washington Department of Financial Institutions entered a Final Order against Timothy Dion Wetzel (“Wetzel”); Wetzel Oil Inc. (“WOI”); Wetzel Energy Technology Company Inc. (“WETCO”); and Better Fuel North West, A WETCO Company, Inc. (“BFNW”) (collectively, “Respondents”). … The Final Order ordered Respondents to cease and desist from any further violations of these provisions of the Securities Act and Business Opportunity Fraud Act. The Final Order also ordered Respondents to pay the following fines and costs: (1) Wetzel and WETCO are jointly and severally liable for a fine of $140,000 for violating the Securities Act in connection with the offer and sale of WETCO stock and promissory notes, and for $20,000 in investigative costs; (2) Wetzel and BFNW are jointly and severally liable for a fine of $80,000 in connection with the offer and sale of BFNW stock, and for $10,000 in investigative costs; and (3) Wetzel is liable for an additional fine of . Matched to Timothy D Wetzel (listed on the same filings). Our match estimate: 70%.
What this means A state regulator issued an order (cease-and-desist, consent order, fine or bar). Read the order; ask the sponsor what it covered.