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October 20, 2014, 7:34 pm
970 WMAY News

Springfield Investment Adviser's License Revoked For Defrauding Elderly Clients

The state has revoked the license of a Springfield investment advisor after concluding he defrauded 21 elderly clients out of thousands of dollars.


Richard Lee Van Dyke persuaded customers… ranging in age from 61 to 82… to sell their existing annuities early and purchase different annuity packages. Secretary of State Jesse White says that cost the clients a total of $250,000, while earning Van Dyke $177,000 in fees.


Van Dyke was ordered to pay fines and court costs of more than $350,000.

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