State bans St. Louis mother-son securities’ team

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

ST. LOUIS (AP) _ A mother-and-son team of securities’ brokers in St. Louis has been banned from working in Missouri in response to charges they defrauded an 89-year-old woman of more than $200,000.

Secretary of State Jason Kander on Monday issued a cease-and-desist order against Marilyn H. Kistler and her son Mark A. Kistler.

The two are accused of convincing the unidentified woman to invest $225,000 in a home repair business that included a $110,000 home equity line of credit on the woman’s home.

Mark Kistler reportedly moved into a home purchased with the victim’s money after she relocated to an assisted living facility at the request of Kistler and his mother. State reguators say the woman was a medical patient of Kistler’s father.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.