Securities Division Files Action Against Zionsville Based Medical Device Company


The Indiana Securities Division has issued a Cease & Desist Order against the medical device company VoCare, Inc. and several of its officers including Steven R. Peabody, Mary Zappia, and Scott Kane- prohibiting it from engaging in further offer or sales of unregistered securities or any other act that violates the Indian Uniform Securities Act.

The Order alleges the following: VoCare, Inc. and certain named officers have violated Indiana law by offering or selling unregistered securities to investors in connection with a claimed “innovative home medical monitoring device business” and engaging in securities fraud by misrepresenting or omitting various material information to investors. VoCare, Inc. is reported to have flouted laws and regulations by engaging in nine (9) separate offers or sales without registering the securities as required by Indiana law. Aside from the 9 offerings above, VoCare Inc. did submit paperwork for two (2) offerings, however the paperwork that was submitted contained inaccurate or misleading information. There is also reason to believe that VoCare Inc. has made other offerings unknown to the Division. At the time, the Cease & Desist Petition was filed with the Indiana Securities Commissioner, VoCare, Inc. is continuing to solicit new investments. Additionally, offering materials distributed by VoCare, Inc. in the form of a “business plan” and various “updates” contained false and misleading information about the state of the company and the success of its products. Claims were made in the business plans about the development stage of products, alleged interest in the products by outside parties, sales forecasts without any reasonable basis, and statement about manufacturing/retail arrangements that did not in fact exist. These claims were used to solicit new investments and keep money flowing into the company that was used to personally enrich the named Parties.

A temporary order for Cease and Desist was granted against VoCare, Inc.

“The Securities Division is committed to protecting Hoosiers from harmful and deceptive business practices.  Investigators will continue to go after those bad actors who are looking to take advantage of Hoosier investors and steal their hard-earned money,” said Diego Morales, Indiana Secretary of State.

The Indiana Securities Division encourages other investors with complaints against the VoCare, Inc. to file complaints with the Indiana Securities Division at