Missouri Attorney General Jay Nixon has filed criminal charges alleging securities fraud against Springfield insurance agent George William “Bill” Hull.
The felony complaint, filed in Greene County Associate Circuit Circuit, charges Hull with two counts of selling unregistered securities and two counts of selling securities without being a registered agent.
According to the charging documents, Hull sold at least $100,000 in promissory notes to investors after promising them a rate of return of 12 percent on their investments. He surrendered today to Greene County sheriff’s deputies after the charges were filed.
A preliminary hearing for Hull is scheduled for Jan. 27. A condition of Hull’s bond is that he not leave the state of Missouri; that he not sell insurance, securities or investments; and that he not provide individuals or business entities with investment advice.
The crimes of offering or selling unregistered securities and transacting business as an agent without being registered are both unclassified felonies under Missouri law. Conviction is punishable by up to 10 years in prison and a $500,000 fine on each count.
In 2002, Nixon filed a civil lawsuit in Greene County against Hull, in conjunction with the Secretary of State’s Securities Division. The lawsuit alleged Hull sold several million dollars worth of unregistered securities without being a registered agent. The lawsuit is still pending.
Was this article valuable?
Here are more articles you may enjoy.
Spain’s Devastating Floods Will Cost Insurers Over $3.8 Billion 
KBRA Says Florida Insurers Will Weather Helene and Milton; Cat Fund Can Handle Payouts 
Bad Weather Sinks Philippine Farm Output to Worst Since 2020 
Hurricane Rafael Menaces Florida Keys on Path to US Gulf 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.