The Ohio Department of Commerce's Division of Securities has issued an order preventing Akron attorney and financial planner Andrew Paul Bodnar, Jr. from continuing to sell securities without complying to Ohio securities law.

The order states that since 1995, Bodnar has illegally sold nearly $5 million in promissory notes, also called "bridge loans," to at least 218 Ohio residents. The promissory notes sold by Bodnar during this time period were allegedly backed by Bodnar's personal holdings in such companies as Quickstart Technologies, Inc., International Aerotech, Inc., and Aerotech International Leasing Corporation. The notes in this case are considered securities by Ohio law.

Commissioner of Securities Thomas E. Geyer emphasized that Bodnar remains obligated to make good on any promissory notes already issued. "This order does not in any way impact or impair Mr. Bodnar's ability or obligation to make payments on outstanding promissory notes or bridge loans."

Investors with questions regarding this matter may contact the Division of Securities Enforcement Section at 614/466-6140.

Pursuant to the order, a hearing will be held at the Division of Securities on April 27 to determine whether the suspension will be continued. At that time, the Division of Securities will present its case, and Bodnar will have the opportunity to present evidence on his behalf. Commissioner Geyer confirmed that the Division of Securities' investigation into Bodnar's activities is continuing, but declined to elaborate.

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