The Colorado Division of Securities on Wednesday issued a final cease-and-desist order against a Denver man and his company CM Yates Inc. for allegedly violating the securities-registration provisions of the state Securities Act.
The division staff alleged that Christopher M. Yates offered securities for real-estate projects to Colorado investors by advertising the investments on the Internet and through mass e-mails.
Yates failed to register these securities, the staff said.
“Soliciting investors through general advertising for private offerings of securities is a violation of the law when those securities have not been registered,” said state Securities Commissioner Fred Joseph.
“Investors should always be wary of stock offerings promoted through the use of general advertising,” Joseph said.
