Read the latest news relating to investor claims and broker fraud.

Ohio Division of Securities April Criminal Cases Update

A criminal referral from the Ohio Department of Commerce Division of Securities ("Division") to the Hamilton County prosecutor's office has resulted in the conviction of Perrin F. Burse of Cincinnati.

Mr. Burse was convicted in early April on ten counts of theft, including two counts of theft from an elderly or disabled adult. He was sentenced to eight years in prison and ordered to pay $161,000 in restitution.

In March 2010, Mr. Burse was indicted for soliciting investment in various funds related to Burse Investment Management Group. Burse had been previously convicted of theft in 2008 relating to similar investment schemes. He was not licensed to sell securities and his company's application for an investment adviser license was denied by the Division in 2006.

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