Skip to page body Home Information Center Election Center Business Center Licensing Center Securities Center Online Services
News Review
Secretary of State Ross Miller's Securities Division Orders Two Nevada Companies to Cease & Desist
Investigators want to hear from possible victims of companies suspected of selling securities without proper licenses and registration
Posted Date: 9/27/2010
(Carson City, NV; September 27, 2010) – Secretary of State Ross Miller’s Securities Administrator has ordered two Nevada companies to stop offering investment opportunities until they are properly registered and the brokers and sales representatives are properly licensed.

Investigators say Rod Hosilyk, President of Universal Cleanair Technologies, Inc. of Reno, and company officers Richard Flanagan and Dawn M. Ernst have been offering minimum stock purchases of $100,000 on the company’s website. The company claims it has raised a first round of $600,000, is currently raising a second round of $1 million and plans to raise another $5 million in 2010. Investigators would like to hear from individuals who may have had contact with Hosilyk, Flanagan, or Ernst regarding investments in Universal Cleanair Technologies, Inc. Individuals should call the Securities Division at 1-800-758-6440.

Because the securities offered are not registered with the Secretary of State’s office and the company’s officers are not licensed as brokers or sales representatives, the Securities Administrator has ordered them to refrain from further activity that could be in violation of state law.

The Division has also ordered Francisco De La Chesnaye and Optimized Cash Flow Systems, Inc. to cease and desist activity in connection with offering or selling unlicensed securities. Investigators say the Las Vegas man is offering up to 20% interest in investments in high yield savings and certificates of deposit, which are not registered with the Secretary of State’s office. The order also claims that De La Chesnaye is not a licensed broker or sales agent.

“We can only hope that potential investors who crossed paths with any of these individuals did their homework first,” Secretary of State Ross Miller said. “Always, always check before you invest. There are a number of resources on my website and in my office that allow people to verify whether investment opportunities and the people offering them are in compliance with state and federal laws.”
Verification tools and other investor information can be found under the Securities Center at www.nvsos.gov.

The individuals in both cases have 45 days upon receiving the Cease & Desist Order to request a hearing on the matters in the complaints.
###