Published January 02, 2013, 07:27 AM
Investment broker accused again
A Fargo investment broker who received a cease and desist order last June for allegedly defrauding a client is now accused of bilking a married couple out of more than $250,000.By: Forum News Service, The Jamestown Sun
FARGO — A Fargo investment broker who received a cease and desist order last June for allegedly defrauding a client is now accused of bilking a married couple out of more than $250,000.
Two counts of Class B felony theft were filed against Robert Henry Medhus on Friday in Cass County District Court.
If convicted, the 65-year-old faces up to 10 years in prison and a $10,000 fine for each charge.
According to the investigative report by the state Securities Department:
In a July 2 interview, Medhus allegedly admitted that he forged checks made out to the couple in the amounts of $234,400 and $22,104 and deposited them into his account for his personal use.
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