EAST ST. LOUIS, Ill. (AP) -- A southwestern Illinois businessman who had been barred from peddling securities now faces federal charges that he swindled everyone from relatives to military veterans through bogus investments.
The two-count indictment returned against 63-year-old Edward Moskop of Belleville accuses him of mail fraud and money laundering.
The U.S. government says that after a 1990 complaint by a national securities group, Moskop was no longer registered to act as a broker. But since then, prosecutors say Moskop's financial services firm misused $2.4 million from 25 would-be investors.
A message left with Moskop's attorney was not immediately returned Wednesday.
Moskop's first court appearance is set for June 6.
(Copyright 2011 by The Associated Press. All Rights Reserved.)