Violation of security laws in Kansas lands Utah man $95,000 in restitution
PAOLA (KSNT) - A Utah man found guilty of violating the Kansas Securities Act has been sentenced to pay nearly $100,000 in restitution.
Dean Loren Casutt, 53, of Alpine, Utah, Casutt was convicted on two counts of securities fraud. He pled guilty on March 3, 2022 to charges he violated the Kansas Securities Act.
The Kansas Attorney General's office says Casutt solicited investments from a Miami County resident for the rehabilitation of property in Utah. He made misleading statements regarding the nature of the investment and omitted material facts regarding his finances in violation of Kansas law.
Casutt was sentenced 24 months of probation in addition to $95,000 in restitution by a Miami County District Court Judge.