State warns investors of Brunswick construction co.
The Maine Office of Securities has ordered a Brunswick-based construction company to stop soliciting investors to buy unregistered securities.
The state office said in its cease and desist order that Bath resident Harold Maney III, owner of Maney Enterprises Inc. with a mailing address in Brunswick, had improperly solicited investment from a customer in 2010, promising the return of a $47,000 investment plus $9,000 in interest. Maney provided the customer a promissory note but ultimately left an unpaid balance of $44,000 after making just one payment. Maine Securities Administrator Judith Shaw said Maney admitted to her office that he fabricated profitability projections for his company and other documents in making the deal, which he said would fund the purchase of a tow truck to expand his business’ services.
Shaw said Maney also had actively solicited investors in his company through his website.
Along with the cease and desist notice, Shaw warned people not to invest additional funds with Maney and contact her office if approached about investing in Maney Enterprises Inc.
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