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Olathe man found guilty of securities law violation, ordered to repay nearly $82,000 in restitution

Release Date: Jan 12, 2021

OLATHE – (January 12, 2021) – An Olathe man has been found guilty and sentenced for a violation of the Kansas Uniform Securities Act, Kansas Attorney General Derek Schmidt said today.

Michael Davin, 64, was sentenced Monday by Johnson County District Court Judge Michael Joyce and ordered to repay $81,296.92 in restitution to a former client on one count of securities fraud. Davin was also sentenced to 48 months of supervised probation. Davin entered a no contest plea on the charge in December and was found guilty by the court. Monday’s sentencing took place with all parties and witnesses appearing by teleconference.

Davin was convicted for violating the securities act for failure to provide necessary information to an investor, in this case failing to disclose that he had prior felony convictions, including two for theft. The securities case was initially filed in October 2018.

The case was investigated by the Office of the Kansas Securities Commissioner and prosecuted by Assistant Attorney General Stacy Edwards of Schmidt’s office.

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