State orders firm to stop advertising securities

February 02, 2010

A Baltimore company that advertises unregistered securities has been told to stop at once, the Maryland attorney general's office said Monday. The cease-and-desist order names Patuxent Management LLC, as well as Patuxent Development Inc. and Antonio Almenara, which the state said advertised notes backed by "local real estate" that were not registered with the state, as required. The companies and individual aren't registered, either. Anyone who bought the notes should call the attorney general's securities division, 410-576-7047.

- Jamie Smith Hopkins

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