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Coleman, founder and managing member of St. Louis-based LLC, had arguecd that he was entitled to a hearinvg before Missouri Commissioner of SecuritiewMatthew Kitzi. But state prosecutors argued that sincse Coleman had withdrawn his requesr for a hearing in he forfeited his rightto appeal. Coleman had withdrawn his hearin g request out of fear his testimony could be used against him in federal court after learninfthe U.S. Attorney’s office in St.
Louis was conductingb its own investigation, according to a letter from his lawyef and brother Larry Coleman to the He faces morethan $38,000 in penalties and costs to the The state attorney general filed a formal judgment and orderd against Coleman Friday, said Nanc Gonder, a spokeswoman for Attorney General Chris Koster. The state’s case againstt Coleman dates backto 2007, when Kitzi beganj an investigation of Coleman after investors complaineds Coleman misled them. That investigation foun d Coleman offered unregistered securities and committed securities fraued in transactions related to his Daedalusx Capital investment firm andthe now-defunct .
Coleman requestedx a hearing to contest thestatde claims. But after more than a year of continuationsw he withdrewhis request, “owingv to Fifth Amendment issues implicated by a Justicde Department and Postal Service investigation of Respondents arisingv out of and or related to these proceedings,” according to a noticee filed Nov. 21 with the state by his lawyetLarry Coleman.
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