FRAUD STOPPERS:
Real life stories of investment fraud
Porter County residents ordered to pay more than $2.1 million to victims of securities fraud.
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In 2007, the Indiana Secretary of State Securities Division brought an Enforcement Action against Atkinson and Harris that was resolved when Atkinson and Harris agreed to be permanently barred from the investment adviser and securities industry. Despite that bar, Atkinson and Harris continued to sell promissory notes to investors.
In September 2016, Gary Atkinson and Donna Harris were convicted of securities fraud, a Class C felony. Atkinson and Harris were each sentenced to eight years of probation and also ordered to pay $2,183,831 in restitution to thirty-six victims.
Indiana Secretary of State Connie Lawson commented, “I would like to thank Porter County Prosecutor Brian Gensel and his office for their work on this case. As a reminder, a simple background check with my office could save your precious investment dollars.”
Indiana Securities Commissioner Alex Glass commented “Real estate investment scams are unfortunately very common. Our Securities Division retains a database of federal and state level registered broker-dealers through FINRA. Always check with the Indiana Securities Division to make sure an investment is legitimate.”
Gary Atkinson and Donna Harris acted as registered broker-dealers, offering investment opportunities under the names of Dunes Country Mortgage Partners and NovaStar Securities. The investment opportunity involved a false real estate development along the Lake Michigan shoreline. Atkinson and Harris sold promissory notes that guaranteed a ten-percent return.