Jefferson County man found guilty of securities fraud in district court
An Oskaloosa man was found guilty Monday of one felony count of securities fraud, the Kansas Insurance Department announced earlier this week.
David W. Moeller was charged with one count of securities fraud for allegedly defrauding a Perry woman who invested funds with Moeller for the development of an invention known as the blade caddy.
State prosecutors alleged that, instead of using the investment dollars to develop the blade caddy product, Moeller used the funds to reimburse a Kansas City, Kan., company to which he had written a bad check.
“Securities fraud is deterred when those willing to commit fraudulent behavior are publicly brought to justice,” Insurance Commissioner Vicki Shmidt said. “The Department will continue to be an advocate for Kansans by aggressively pursuing securities fraud in Kansas,”
On July 19, a trial was held before Jefferson County District Court Judge. On July 21, Etzel issued a written verdict, finding Moeller guilty as charged.
Etzel scheduled Moeller to be sentenced on Aug. 26. The investigation was conducted by the Office of the Kansas Securities Commissioner, a division of the Kansas Insurance Department. The criminal prosecution was conducted by the Kansas Attorney General’s Office.