uggs womens boots Missing Boise securities broker indicted on 10 counts of wire fraud
Attorney for the District of Idaho Bart Davis said Wednesday.
Rodney Allen, 65, was indicted Tuesday in Boise. The indictment accuses Allen of scheming to defraud clients of his company KA Investments, LLC, from in or about 2016 to in or about 2017. It alleges that Allen sought to obtain clients’ money by false pretenses and misappropriated their money.
The indictment alleges that Allen misrepresented in monthly statements that clients were earning positive returns on investments, when they were actually earning negative returns.
In one case, the indictment says Allen e mailed a statement in November 2016 informing a client that they earned 1.903 percent on their account. They had actually lost 36.01 percent.
Allen is also accused of telling clients that he was taking a 14 to 18 percent commission, when he was really taking a greater percentage and misappropriating clients’ deposits for personal use regardless of profit or loss.
Allen was last seen in the Boise area on April 20. His pickup truck was found two days later near the Snake River, six miles upstream from Swan Falls Dam.