The Secretary of State of Illinois Securities Department has issued a Notice of Hearing for Edward M. Ryan and Ronald E. Welker, registered representatives of Alumin USA in South Barrington, Illinois, to determine whether an Order shall be entered prohibiting Ryan and Welker from offering and selling securities in the state of Illinois. Ryan was the manager of Alumin and Welker was a salesperson. They are accused of soliciting and selling promissory notes to investors issued on behalf of Alumin, and promising those investors returns of 10 percent rates within one year of investment. The investors only received marginal amounts back from their investments. Ryan was also accused of allegedly using funds from the Alumin bank account for his and his wife’s own personal use. Both men were also accused of allegedly making untrue statements, material facts and omissions regarding the promissory note sales. These are all against securities rules and regulations.
If you invested money with Edward M. Ryan or Ronald E. Welker, you may be able to sue Alumin USA in the Financial Industry Regulatory Authority (FINRA) arbitration forum to recover your investment losses. Please call us at 312-332-4200 to speak to an attorney about your options. The call is free with no obligation. We take cases on a contingency fee basis, so we don’t receive money unless you recover it.
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