INDIANAPOLIS - Two Indiana stockbrokers are no longer allowed to sell securities because of delinquent child support payments, state officials said.
Kenneth McCabe and Jeffery Everaert's licenses were suspended after Indiana Secretary of State Connie Lawson confirmed each man owed a significant amount in back child support.
McCabe owes more than $70,000 in child support payments in Lake County, and Everaert owes more than $14,000 in child support payments in Porter County.
“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."
Lawson also said that the suspensions could change McCabe's and Everaert's future professional relationships.
"Investors don’t want a securities professional who can’t meet their own financial obligations telling them how to invest their hard earned money," she said.
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.