McPHERSON, Kan. (WIBW) – A Kentucky man has been ordered to pay restitution and will be sentenced in September after he pleaded guilty to securities fraud.
Kansas Attorney General Derek Schmidt says a Kentucky man has pleaded guilty to securities fraud and has agreed to pay $25,000 in restitution to a victim in McPherson Co.
According to AG Schmidt, Bryan Scott Hurt, 52, of Glasgow, Ky., pleaded guilty in McPherson Co. District Court to one count of securities fraud. He said the plea was accepted by Judge John Klenda and sentencing was scheduled for Sept. 16, at 3 p.m.
Schmidt said an investigation by the Office of the Kansas Securities Commissioner found that Hurt’s company solicited a $25,000 investment in an oil and gas lease between December 2014 and January 2015 from a McPherson Co. resident. He said investigators found that Hurt diverted the investment for personal use and to pay other unrelated investors.
According to Schmidt, the case was prosecuted by Assistant Attorney General Stacy Edwards of the Fraud and Abuse Litigation Division in his office.
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