For Immediate Release
March 4, 2010
Assistant Attorney General Tracy M. Culberson
Attorney General Michael A. Delaney and Secretary of State William M. Gardner announced today that Eugene Morrissette of Belmont has been enjoined from the unlicensed sale of securities and has had certain assets frozen. Superior Court Justice Steven M. Houran issued the injunction subsequent to a joint petition filed by the Office of the Attorney General and the New Hampshire Secretary of State, Bureau of Securities Regulation.
The State charges that Eugene Morrissette, doing business as GM Enterprises, operated various multi-level marketing programs in violation of state securities law. Participants in the programs were compensated based upon the amount of their investments and their recruitment of other participants into the program.
Until a final hearing is held, Morrissette is enjoined from engaging in the unlawful sale or distribution of securities. He is also required to recover program member assets that have been deposited or placed in the possession of out-of-state organizations or financial institutions. Morrissette's assets, to include bank accounts and personal property, have been frozen.
Both the Office of the New Hampshire Attorney General and the Secretary of State, Bureau of Securities Regulation continue to investigate the scope of Morrissette's activities.
New Hampshire Department of Justice | 33 Capitol Street | Concord, NH | 03301