Former Bismarck securities agent facing criminal charges
FARGO, N.D. (AP) — A former Bismarck securities and insurance agent accused of defrauding investors out of more than $3 million is facing criminal charges in federal court.
The case against Kevin Wanner was unveiled in a civil matter a year ago when the government sought to freeze funds from the sale of private property. He was arrested Wednesday after being indicted on charges of mail fraud and money laundering. Court documents don’t show whether Wanner entered a plea.
Investigators say Wanner devised the scheme in about 2000 and it lasted to about 2015. In that time, according to the indictment, Wanner bilked money from about 40 people and “used the money from the shame investments for his personal use, as well as to pay to his defrauded investment clients to further the appearance that their investments were legitimate.”
Jeffrey Weikum, Wanner’s attorney, didn’t immediately respond to a request for comment. Prosecutors declined to comment.
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