Type to search

Banking News

Delaware authorities reach settlement with Michigan company

Avatar photo
Share

(AP) โ€” Delaware authorities say they have reached a settlement with a Michigan-based company accused of engaging in deceptive business practices.

The settlement announced Monday is the second in two years involving The Mandatory Poster Agency Inc., doing business as the Delaware Council for Corporations.

The three brothers who run the business entered into a cease-and-desist agreement with Delaware last year after selling corporate forms with misleading materials under another company name, Corporate Records Service.

Officials say the scam involved sending a mailing resembling an official Delaware government document so unsuspecting Delaware-registered businesses would pay $125 for unnecessary corporate forms.

Authorities say the new settlement includes payments of $175,000 in penalties suspended from the earlier settlement, and $15,375 in new penalties. The remaining $384,625 of the new penalty is suspended.

Get the free DBT email newsletter  

Follow the people, companies and issues that matter most to business in Delaware.

Tags:

You Might also Like

Leave a Comment

Your email address will not be published. Required fields are marked *

Premier Digital Partners

© 2022 Delaware Business Times

Holiday flash sale! Subscribe to Delaware Business Times and save 50%.

Limited time offer. New subscribers only.

Holiday flash sale!

Subscribe to Delaware Business Times and save 50%

Limited time offer. New subscribers only.