Securities Department Orders United States Oil & Gas Corp. to Stop Selling Notes

The Arkansas Securities Department on Wednesday ordered United States Oil & Gas Corp. of New York to stop selling securities in the state.

In its cease-and-desist order, the department said that in March 2011, the company sold an unregistered, unexempt or non-covered $25,000 promissory note to an unidentified, 91-year-old Arkansas resident.

The department also said the company's vice president of investor relations, Omar Leon Plummer of Blacklick, Ohio, conducted business as an agent of the company without registering with the department. 

Click here (PDF) to see the news release about the order, and here (PDF) to see the cease-and-desist order itself.