According to the order, Wanner allegedly offered and sold North Dakota residents certificates of deposit, telling the investors that their funds would be used to invest in the FDIC member financial institutions, but instead supposedly put the money in his own accounts for personal use. The order states that Wanner allegedly operates under the business name Precision Financial Services as well.
The Commissioner’s employees attempted to verify the certificates of deposit, but banks and financial institutions that were listed on the certificates claimed the account numbers did not match their account number formats. It was determined that the certificates were fraudulent, and Wanner allegedly violated numerous securities laws. The cease and desist order stops Wanner from transacting, soliciting, or engaging in the insurance business with North Dakota residents.
If you lost money with Kevin D. Wanner, contact Meyer Wilson. Our securities fraud lawyers can meet with you in a free consultation and determine if you have claim.