Business

Hutch firm gets cease-and-desist order

The Kansas Securities Commissioner's office filed a cease-and-desist administrative order today against TNT Enterprises and its president and CEO, Todd Cleavenger.

The order alleges the Hutchinson-based company violated state securities law because TNT and Cleavenger are soliciting investors while not registered with the commissioner's office.

Specifically, TNT has been seeking investors to provide money to buy distressed properties and then rent them, said Erin Hoestje, associate general counsel for the commissioner's office.

The company's Web site is still active.

Cleavenger could not be reached for comment. Hoestje said she thought Cleavenger was now living in Texas.

Cleavenger formed TNT in 2005. In October 2008, he said the company would gross $1.2 million that year and had about $3.9 million in assets.

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