Secretary of State suspends securities broker license for failure to pay child support

11 Dec

Today in Indianapolis, Indiana Secretary of State Connie Lawson is suspending the license of Indiana securities broker Ronald Stuppy for delinquent child support payments in Porter County. Effective immediately, Stuppy is no longer licensed in Indiana to sell securities. He is the third securities professionals to have his license suspended for delinquent child support since the law enacting this suspension procedure went into effect in July of 2012.
“He can’t skirt his child support payments and continue using his professional license to make money in Indiana,” said Secretary Lawson. “Hopefully the loss of his livelihood will motivate him to start making payments.
“This also provides investors with some additional security. Investors don’t want a financial professional who can’t meet their own obligations telling them how to invest their hard earned money.”
Ronald Stuppy owes almost $20,000 in child support payments in Porter County. The suspension occurred after Secretary Lawson confirmed Stuppy owed a significant amount in child support payments. Stuppy is currently residing in Riverside, California.
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.

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One Response to “Secretary of State suspends securities broker license for failure to pay child support”

  1. Diane Hensley via Facebook December 12, 2013 at 7:57 am #

    Glad to hear the government is enforcing the law with regards to unpaid child support! Hopefully, this year his children will have a nice Christmas!!

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