State issues cease-and-desist order to Joplin investment agent

Secretary of State Robin Carnahan’s office this morning announced that Commissioner of Securities Matt Kitzi issued the order Nov. 15 to Mark L. Henry.

The order alleges that Henry opened a personal bank account and used it to conduct business as Investment Centers of America Inc. According to Carnahan’s office, Henry worked at the firm from Oct. 6, 1994, until Sept. 2, 2005. The order says the account was not authorized by ICA, but that Henry used it to collect clients’ funds during and after his employment with ICA.

The order alleges that at least eight Missouri residents lost a total of more than $800,000 they intended to invest. Henry allegedly accepted money from investors and used the funds to pay off other investors and for personal expenses.

Carnahan’s office alleges that Henry also conducted a similar fraud by falsely representing himself as an agent of an investment company called Harbor Investments.

See the Dec. 4 issue of Joplin Tri-State Business for more on this story. Joplin Tri-State Business is SBJ’s sister publication.