Insurance Product Fraud A Buyers' Cooperative Assurance Buyers Cooperative Control Systems, Inc. Employee Plans Insurance Agency Equity Owners Association Equity Protector Service Co. HCB Insurance Brokerage Howard K. Holladay Leeds & London Merchants Ins. Action Date: August 30, 2001 Location: Boston, MA On August 30, 2001, the Texas Department of Insurance issued a cease and desist order against Control Systems, Inc., a company located in Boston, Massachusetts, which allegedly acted as an unlicensed agent for an unlicensed insurer, Leeds and London Merchants Insurance, S.A. of San Jose, Costa Rica. Control Systems allegedly solicited buyers to a group insurance policy issued to Assurance Buyers Cooperative, Inc., a business which operated from the same Boston address as Control Systems. Howard K. Holladay was president of Control Systems, Inc. Holladay was also president of several other businesses which operated from the same address, including HCB Insurance Brokerage, Inc.; A Buyers' Cooperative, Inc.; Employee Plans Insurance Agency, Inc.; Equity Owners Association of America, Inc.; and Equity Protector Service Company, Inc.