- Associated Press - Monday, April 17, 2017

BOISE, Idaho (AP) - The Idaho Department of Finance filed a lawsuit Monday against a man who raised more than $2 million from investors for allegedly violating state securities laws.

The agency says Richard Guyon of Nampa misrepresented to his clients that he managed a $12 million investment portfolio and instead spent investors’ money on personal expenses, according to the six-count civil complaint.

“Since arriving in Idaho, this lothario has convinced at least two women, both of whom he dated, to assist him in defrauding several local investors of over $2 million,” wrote Deputy Attorney General Alan Conilogue, representing the finance agency. “He met them online while incarcerated, and shortly after he was released on supervision he moved in with one of them and began working with the other.”

The complaint also says Guyon did not tell his investors he had previously been sentenced to prison on federal financial crimes convictions, nor did he tell them that the investment contracts were unregistered securities, which is required under Idaho law. The state said it believes Guyon has used the aliases Rick Garrison, Mark Thompson, Rick Thompson and Michael A. Banks and possibly others while deceiving investors.

George Breitsameter, a Nampa attorney representing Guyon, says that they are working to resolve the issue in a timely manner. He declined to comment further regarding specific details about the case.

The state is seeking to ban Guyon from any future practice of managing investments in Idaho and pay $60,000 in civil penalties for breaking the law. Finally, the state also wants the court force Guyon to pay back his investors the nearly $2 million he received from them.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide