A Minnesota man faces a 10-year prison sentence and fine after pleading guilty to securities fraud Friday in a 2009 case involving a Robertsdale company, announced Hallie Dixon, district attorney for the 28th Judicial Circuit, Baldwin County; and Joseph Borg, director of the Alabama Securities Commission.
Scott Anthony Koster, 33, a resident of Milaca, Minn., pled guilty to one count of securities fraud, a Class C felony, punishable by a sentence not to exceed 10 years’ imprisonment and up to a $15,000 fine per charge, upon conviction. Koster’s plea was followed by the State of Alabama recommending a 10-year sentence to be split for the time served.
According to the release, Koster was has been in jail since March 28, 2014 in Baldwin County and will be “jointly and severally liable” for the restitution balance of $1,910,066.79 remaining from the conviction of a Richard James Tucker of Fairview, involving criminal activities associated with Synergy Finance Group LLC, a Robertsdale, company.
Robertsdale has investment companies? Who knew?