TOPEKA, Kan. — A Pennsylvania man has pleaded guilty in Kansas to felony charges of selling unregistered securities that cost investors $800,000.
The Topeka Capital-Journal reports that 51-year-old Kevin Brown pleaded to four charges Tuesday in Shawnee County District Court.
The U.S. Securities and Exchange Commission accused Brown in 2015 of participating in a collection of companies tied to three multimillion-dollar frauds between 2008 and 2014, including a Ponzi scheme. Brown’s misconduct in Kansas occurred from 2011 to 2013.
His case was originally investigated by the Kansas Securities Commission before being passed to Attorney General Derek Schmidt under authority granted by the 2017 Legislature.
Brown’s sentencing is scheduled for Dec. 19.
Information from: The Topeka (Kan.) Capital-Journal, http://www.cjonline.com