BISMARCK, N.D. (AP) -- A Grand Forks securities agent who lost his state registration in 2004 is accused of defrauding Walsh County residents out of nearly $3.5 million.

Ross Haugen faces charges including felony theft, securities fraud and acting as an unregistered agent. He does not have a listed telephone number in Grand Forks.

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Haugen earlier was part of a larger Securities and Exchange Commission civil investigation.

Haugen has not been registered as a securities agent in North Dakota since he withdrew the registration in 2004 as the Securities Department was preparing to revoke it.