State bans St. Louis mother-son securities’ team
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.