Idaho ordered an insurance agent to cease and desist operations after finding some of his products misrepresented information and that he acted as an unlicensed broker-dealer against state law..
The Idaho Department of Finance issued the order against Jerry Ward and his business, Med-Life, after finding he sold “at least one unregistered “certificate of deposit” …and that misrepresentations and omissions of important information occurred in connection with the sale of the investment interest.”
Ward, whose business has an address in Boise and had been registered with the Idaho secretary of state since 2002, had operated from various locations, including southwestern and northern Idaho.
According to the state, Ward agreed to never again provide investment advice or sell securities from Idaho.
The Department of Finance is investigating further and could still seek restitution and civil penalties.
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