A Marion, Iowa, insurance agent was sentenced to four years in prison for selling fraudulent securities, according to The Marion Star.
Paul L. Edwards, 68, received three years for reportedly engaging in a pattern of corrupt activity and one year for 27 securities offenses. Prosecutors said Edwards had sold $400,000 in promissory notes to area investors.
Edwards reportedly told the investors the notes were insured and were fool-proof, but they lost all of their money.
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