An Arizona man has been ordered to pay $550,000 in restitution for violations of the Kansas Uniform Securities Act; that's according to Kansas Attorney General Derek Schmidt.
68-year-old Kenneth Marg of Scottsdale, Arizona plead guilty in September 2022 in Johnson County District Court on two counts of securities fraud and one count of employing an unregistered agent. Marg was ordered today in Johnson County District Court to serve 60 days in jail, 36 months of probation, and to pay the restitution to two Kansas victims.
The case was made from an investigation by the Office of the Kansas Securities Commissioner involving investor funds solicited by an individual on behalf of an Arizona business. Marg operated the business and employed Daniel Madasz, of Raymore, Missouri, to solicit investors. Madasz was convicted in February 2021 on two felony counts of securities fraud and one count of acting as an unregistered investment adviser. He was sentenced to 12 months in prison and to pay $550,000 in restitution.
