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Olathe man ordered to pay $81K in securities fraud case

Posted at 10:26 AM, Jan 13, 2021
and last updated 2021-01-13 11:26:05-05

OLATHE, Kan. (AP) — A Kansas man has been found guilty of federal securities fraud and sentenced to four years' supervised probation.

The office of U.S. Attorney General for Kansas Derek Schmidt said in a news release that Michael Davin, 64, of Olathe, also was ordered at his Monday sentencing to pay more than $81,000 in restitution to a former client.

Davin pleaded no contest to a single count back in December. Prosecutors say Davin failed to disclose to the investor that he had prior felony convictions, including two for theft. The securities case was initially filed in October 2018.