FARGO, N.D. (AP) _ A former Fargo investment broker has pleaded guilty to bilking 19 investors out more than $900,000.
65-year-old Robert Medhus (MAY-hoos) pleaded guilty to 16 felony charges Monday in East Central District Court.
Medhus will be sentenced after a presentence investigation is completed. Prosecutors say they will ask for a sentence of eight years in prison. There is no plea agreement.
Prosecutors say Medhus forged client checks, created fake investment account statements and failed to invest client assets as promised.
Kelly Mathias is the supervisor of investigations for the North Dakota Securities Department. She says some of the investors are in their 90s.
Medhus and his attorney, John Goff, declined to comment.