Published March 11, 2013, 04:54 PM
Fargo broker is charged with securities fraud
Fargo, ND (WDAY TV) -- A Fargo broker has been criminally charged with securities fraud, sale of unregistered securities and theft.By: WDAY Staff Reports, WDAY
Fargo, ND (WDAY TV) -- A Fargo broker has been criminally charged with securities fraud, sale of unregistered securities and theft.
Robert Medhus is accused of running a ponzi-like scheme over 10-years, that defrauded 18-victims of 900-thousand dollars.
In January of 2012, the securities commissioner revoked the registration of Fargo business Associated Financial Services, a broker-dealer owned by Medhus.
Each count is punishable by 10-years in prison and/or a 10-thousand dollar fine.
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