The allegations read: 1.respondent ernest j. Romer iii engaged in an act, practice, or course of business that operated as a fraud or deceit on another person in connection with the offer or sale of securities when he convinced customer mr to liquidate securities, then accepted the proceeds of the liquidation to invest on customer mr's behalf, but instead deposited the funds into an account that he controlled, and used the funds for his own benefit, rather than the benefit of customer mr. Respondent's act, practice, or course of business was in violation of section 501(c) of the securities act, mcl 451.2501(c).
2.respondent ernest j. Romer iii engaged in an act, practice, or course of business that operated as a fraud or deceit on another person in connection with the offer or sale of securities when he convinced customer gp to liquidate securities, then accepted the proceeds of the liquidation to invest on customer gp's behalf, but instead deposited the funds into an account that he controlled, and used the funds for his own benefit, rather than the benefit of customer gp. Respondent's act, practice, or course of business was in violation of section 501(c) of the securities act, mcl 451.2501(c).
3.respondent ernest j. Romer iii engaged in an act, practice, or course of business that operated as a fraud or deceit on another person in connection with the offer or sale of securities when he convinced customer rk to liquidate securities, then accepted the proceeds of the liquidation to invest on customer rk's behalf, but instead deposited the funds into an account that he controlled, and used the funds for his own benefit, rather than the benefit of customer rk. Respondent's act, practice, or course of business was in violation of section 501(c) of the securities act, mcl 451.2501(c).
