Published June 22, 2012, 09:08 AM
ND man ordered to stop acting as securities agent
North Dakota's Securities Department has ordered a Fargo man to stop acting as a securities agent.
FARGO, N.D. (AP) — North Dakota's Securities Department has ordered a Fargo man to stop acting as a securities agent.
The department alleges that Robert Medhus (MAY’-hoos) defrauded a client whose retirement nest egg of about $320,000 is missing.
The “cease and desist” order by Securities Commissioner Karen Tyler follows an action she took in January to revoke the registration of Associated Financial Services Inc., a brokerage owned by Medhus. She also revoked Medhus’ securities agent registration at that time.
Medhus did not immediately respond to an Associated Press request for comment on Friday.
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