Eugene (KMTR) - A local businessman has been arrested for defrauding investors, and police would like to speak with potential victims in the case.
On Thursday, February 9th, 44 year old local businessman and financial planner James Scott McKee of Eugene was arrested by Eugene Police Financial Crimes Unit on four counts of Aggravated Theft in the First Degree (by Deception).
The unit continues to investigate and is hoping that any potential victims, or those who have had financial dealings with McKee and have questions or concerns, will call Detective Mercy McDonald at 541.682.5169.
McKee has been associated with four businesses including Ventis, Uptown Development, Quality Financial Group, McKenzie Funding, and Bedrocks.
To date, three investors are listed as victims with losses totaling $584,000.
The investigation has found so far that between February 2008 and the present, McKee committed Aggravated Theft by Deception and Fraud with respect to securities or securities business including: the sale of unregistered securities, the unauthorized liquidation of monies from investment accounts by a financial planner, the unauthorized deposit of those funds into the financial planner's personal bank account and the subsequent concealment of that liquidation.
The investigation also found that McKee devised a scheme to defraud his clients by soliciting money under false pretenses, failing to invest the money as promised and/or misappropriating and converting the money of investors to his own benefit and the benefit of others without the knowledge or authority of the investors.