Five people charged with illegally selling securities in Mitchell, five other counties
DES MOINES — Five people have been charged with felonies connected to selling securities without the proper registration in portions of north-central, northeastern, and central Iowa.
The Iowa Insurance Division says their Fraud Bureau conducted an investigation in February after the five individuals allegedly conducted investment meetings to encourage the purchase of securities in Mitchell, Allamakee, Winneshiek, Wapello, Clayton and Madison counties. They say participants were unaware that they were acquiring securities that needed to be registered with the state of Iowa.
Fraud Bureau chief Matt Mortvedt says if you think you have been involved with any of the individuals or experienced other securities violations, you need to contact the Iowa Insurance Division immediately.
Charged are:
- 63-year-old Stanley Pophal of Wausau Wisconsin
- 59-year-old David Halvorson of Galesville Wisconsin
- 51-year-old Casey Halvorson of McGregor
- 58-year-old Gary Halvorson of McGregor
- and 65-year-old Debra Mink of Prairie Du Chien Wisconsin
Each has been charged with one count of securities fraud, a Class D felony punishable by up to five years in prison.
