Carlisle Investments Group, Ltd. v. White

Following an administrative hearing, the Secretary of State found that plaintiff and its officers acted as loan brokers within the meaning of the Illinois Loan Brokers Act of 1995 (Act) (815 ILCS 175/15 — 5.15 (West 1998)) when they agreed in November 1999 to arrange sources of financing for, and to help rehabilitate, a building owned by Lorraine Phillips in return for a fee and that they violated sections 15 — 10 and 15 — 15 of the Act (815 ILCS 175/15 — 10, 15 — 15 (West 1998)) by not registering, or applying to register, as such. In addition, after plaintiffs failed to comply with the…