Securities investigators for the Nevada Secretary of State's office said last week they arrested Philip Edward Haskin of Carson City, who operated out of a Reno office, on allegations of securities fraud.
In a phone interview, Haskin said he is the victim of vengeful former business partners who called in authorities after he blew the whistle on theft from the company.
Investigators alleged that Haskin bilked a Carson City woman out of $5,000 in mid-2008 through an investment in a Reno company called Advanced Communication Integration.
Securities investigators said Haskin told the woman he'd made a significant personal investment in the company, that he had no prior legal problems and that the company's gross monthly income was nearly $1 million.
Investigators said none of the statements were true. Haskin's company, investigators said, had been ordered to vacate its Reno office for failing to pay rent, and his former company had a $2,000 IRS lien filed against it.
The state said Haskin's investment offer was not registered as a security, and he was not licensed as a broker-dealer or sales representative.
In an interview, Haskin denied any wrongdoing. He said the securities were sold under private-placement regulations, and he said he was allowed as a top executive in Advanced Communication Integration to sell stock in the company even though he wasn't a licensed broker-dealer.
He said former business associates called in investigators after Haskin complained about the theft of $400,000 from the former company.
The investigators, in turn, scared off investors in Advanced Communication Integration, which was a developer of computer networks, Haskin said.
He said he had invested more than $100,000 in personal funds in Advanced Communication Integration and had kept investors well-informed about the company.
