Las Vegas man indicted on charges of securities fraud

Monday, March 15, 2004 | 10:51 a.m.

A Clark County Grand Jury has indicted John L. Myers of Las Vegas on securities fraud charges.

Myers was indicted on 14 counts of securities fraud and two counts of offering to sell an unregistered security.

The state alleges that Myers offered investors 40 percent to 50 percent interest over a 12-18 month period by investing in, among other things, the construction of strip malls, said Neil Rombardo, deputy attorney general.

He is alleged to have made $169,500 from 10 investors, five of whom were over the age of 65, Rombardo said. Myers was arrested Friday and is expected to post bail today, Rombardo added.

Myers' attorney, Neil Beller, could not be reached for comment.

During the two years he was accused of conducting the alleged scheme, Myers worked for Gilman & Ciocia and Pro-Integrity Securities, both in Las Vegas. Those companies have not been indicted, and Rombardo would not comment on whether those companies are involved in the investigation.

"He confused consumers enough that they thought he was representing those companies," Rombardo said

Myers had an independent franchise agreement with Pro-Integrity, and the office has since been closed. Gilman & Ciocia has since been purchased by Pinnacle Tax Advisors, which could not be reached for comment.