State bans St. Louis mother-son securities' team - KMOV.com

State bans St. Louis mother-son securities' team

 ST. LOUIS (AP) -- A mother-and-son team of securities' brokers in St. Louis has been banned from working in Missouri in response to charges they defrauded an 89-year-old woman of more than $200,000.

 
   Secretary of State Jason Kander on Monday issued a cease-and-desist order against Marylin H. Kistler and her son Mark A. Kistler.
 
   The two are accused of convincing the unidentified woman to invest $225,000 in a home repair business that included a $110,000 home equity line of credit on the woman's home.
 
   Mark Kistler reportedly moved into the woman's home after she relocated to an assisted living facility at the request of Kistler and his mother. State regulators say the woman was a medical patient of Kistler's father.
 

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