- Associated Press - Tuesday, June 23, 2015

HUNTSVILLE, Ala. (AP) - A financial adviser from Huntsville is charged with misusing about $2.5 million that belonged to investors.

Authorities from the state securities agency and Madison County prosecutors announced the arrest of former broker Keith Michael Rogers on Monday.

Rogers is charged with 10 counts of violating state securities laws. Authorities say he misled investors and used about $2.5 million from them to pay personal expenses.

Rogers also is accused of running a Ponzi scheme and using money from newer investors to pay off longer-term investors.

Rogers is jailed with bond set at $2 million. Court records don’t show whether he has a lawyer.

A civil suit filed against Rogers last year accused him of swindling former Alabama running back Kenneth Darby. Rogers and his former employer denied those claims.

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