A Kentucky man has admitted to a securities fraud charge and agreed to pay $25,000 in restitution to a McPherson County victim.
According to Kansas Attorney General Derek Schmidt, 52-year-old Bryan Scott Hurt, of Glasgow, Kentucky, pleaded guilty last week in McPherson County District Court to one count of securities fraud. The plea was accepted by McPherson County District Judge John Klenda.
An investigation by the Office of the Kansas Securities Commissioner determined that Hurt’s company solicited a $25,000 investment in an oil and gas lease between December 2014 and January 2015 from a McPherson County resident. Investigators determined that Hurt diverted the investment for personal use and to pay other, unrelated investors.
The case was prosecuted by Assistant Attorney General Stacy Edwards of the Fraud and Abuse Litigation Division of Schmidt’s office.