July 2, 2008
Kansas City, Mo. - Attorney General Jay Nixon has filed nine felony securities fraud charges against a Kansas City man who allegedly defrauded three investors out of approximately $574,000 in a trucking investment scheme. The charges against Steve Brownell (DOB - 4/29/57) were filed on May 28 in Jackson County Circuit Court, and the defendant has yet to turn himself in to authorities.
The Attorney General's Office is encouraging anyone who has seen the defendant, or who has information on his whereabouts, to contact the office at (816) 889-5029 or (573) 751-0702. He is described as a white male, 51 years old, six foot tall and approximately 185 pounds, with a medium build and blue eyes. A photograph of Brownell can be found on the Attorney General's Web site at ago.mo.gov.
According to the charges, Brownell persuaded three Kansas City area individuals to invest in the purchase of dump trucks, which he represented would be used to haul rock, sand, asphalt and salt. Brownell allegedly represented that in return for their investment, investors would receive a percentage of the profits from each truck. Instead, Nixon alleges, investors received little if any return on their investment.
Securities fraud is an unclassified felony under Missouri law, punishable by up to ten years in prison on each count and/or up to a $10 million fine. As in all criminal cases, the charges against the defendant are merely allegations, and the defendant is presumed innocent until or unless proven guilty in a court of law.