Former Broker Rodney Allen Wanted for Wire Fraud

AdobeStock_77502568-1-300x199A former broker from Boise, Idaho, Rodney Allen, is wanted after being indicted on 10 counts of wire fraud on suspicion of heading a scam against at least 70 investors. Allen went missing after he learned of the investigation against him, accusing him of orchestrating and leading a ponzi scheme. Allen and his company, KA Investments Inc. were sued by the Idaho Department of Finance, alleging that he lied to investors, illegally diverted their funds, and was not licensed to sell securities. Beginning in 2009, the lawsuit claimed that Allen sent his investors “dummied-up account statements, showing ridiculous annual returns of up to 36 percent.” In April 2017, Allen had $7 million from investors, $2.9 million of which he took for his own personal use. On April 20th, Allen’s wife told a friend that he had taken his passport, cash and a gun from their safe in their home. His pickup was found abandoned April 22nd along the Snake River, by his home.

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