Former Broker Charged with Theft and Securities Fraud| 3/11/2013
The Securities Department says that Medhus allegedly forged client checks, created fake investment account statements, and failed to invest client assets as agreed, in order to divert his clients` money to his own accounts for his personal and business expenses.
Last Thursday, the Cass County State`s Attorney`s Office filed an Amended Information against Medhus with 16 criminal counts. They are: two counts of theft of property, 13 counts of fraudulent practices in the sale of and with respect to securities and one count of offering for sale or selling unregistered securities. All 16 counts are Class B felonies.