The allegations read: On march 25, the securities division entered a statement of charges and notice of intent to enter order to cease and desist, deny future registrations, impose fines, and charge costs ("statement of charges") against respondent ronald walter hannes ("hannes," crd #1462241). In the statement of charges, the securities division alleges that hannes violated the securities act of washington by employing a scheme to defraud his clients by selling unregistered, fictitious investments, concealing these sales from his broker-dealer, and falsifying documents in response to the broker-dealer's internal investigation. The securities division further alleges that hannes defrauded at least nineteen clients of at least $2.9 million. The statement of charges gives notice of the securities division's intent to enter an order to cease and desist from violations of the securities act of washington, to impose a fine of $100,000, to charge investigative costs of $5,000, and to deny any of hannes's future investment adviser representative or securities salesperson applications for registration. Hannes has the right to request a hearing on the statement of charges.
