Chesterton Tribune



Licenses of two NWI brokers suspended for nonpayment of child support

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Indiana Secretary of State Connie Lawson is suspending the licenses of two Indiana stockbrokers, Kenneth McCabe and Jeffrey Everaert, for delinquent child support payments in Lake and Porter Counties, respectively.

“Effective immediately, they are no longer licensed in Indiana to sell securities,” Lawson’s office said in a statement released on Tuesday. “They are the first securities professionals to have their license suspended for delinquent child support since the law enacting this suspension procedure went into effect in July of 2012.”

“Hopefully the loss of their livelihood will give these men the motivation they need to start making child support payments,” Lawson said. “If they start paying, it will serve as a late Mother’s Day gift to the mothers of these men’s children. This also provides investors with some additional security. Investors don’t want a securities professional who can’t meet their own financial obligations telling them how to invest their hard earned money.”

The suspensions occurred after Lawson confirmed that each man owed a significant amount in child support payments, the statement said. “Kenneth McCabe owes more than $70,000 in child support payments in Lake County. Jeffery Everaert is behind over $14,000 in payments in Porter County. Two other licensees were provided notice of intent to suspend for failure to pay child support, but both complied before the suspension.”

The Secretary of State’s office works with the Department of Child Services to identify financial professionals who are registered with the Securities Division of the Secretary of State’s office and who are behind in child support and not making payments. Individuals who do not make arrangements for payment with county prosecutors will receive a warning that payment is required and that a suspension is possible. If the individual does not respond, then the Securities Division may suspend their license.



Posted 5/15/2013