(Spirit Lake)– A Milford man has been arrested by the Dickinson County Sheriff’s Office on 19 felony charges for allegedly selling investments after his insurance license had been revoked by the state.
65-year-old Larry Lavin of Milford has been charged with four counts of fraudulent practices in the first degree…each a class “C” felony; 14 counts of fraudulent practices in the second degree…each a class “D” felony; and one count of ongoing criminal conduct…a class “B” felony.
Lavin is being held in the Dickinson county jail on 135-thousand dollars bond.
Authorities say the charges are the result of an ongoing investigation by the Dickinson County Sheriff’s Office, the Iowa Division of Criminal Investigation and the Iowa Insurance Division.
Authorities say the investigation is related to Lavin allegedly selling investments in Spencer Capital Growth to various individuals in northwest Iowa.
They say Lavin had been a licensed insurance agent, but on April 8th of this year he entered into a consent agreement with the Iowa Insurance Division, which permanently revoked his license for previous violations.
Anyone who has done insurance or investment business with Lavin since his license was revoked or who invested in Spencer Capital Growth should contact the Dickinson County Sheriff’s Office at 336-2793 or the Iowa Division of Criminal Investigation at (712) 263-4623.
