Bourbon County man sentenced for securities fraud

Bourbon County man sentenced for securities fraud

Topeka, Kan. - Kansas Insurance Commissioner Vicki Schmidt, today, announced a Bourbon County man has been sentenced to 24 months of probation for criminal violations of securities regulations.

Richard Goldston, aged 56, pleaded guilty on June 29, 2026, in Bourbon County District Court to two felony counts of violating securities regulations. The Securities Division of the Kansas Department of Insurance discovered an issue regarding Goldston's history when reviewing his registration application with a new employer. While under his past employer, he was terminated for taking a loan from a client and then making false notes in the employer's database to conceal the loan. A subsequent department investigation revealed Goldston took loans from multiple clients, which is prohibited by regulations of the Securities Division. He was sentenced on September 18, 2026, to 24 months of probation and is barred from employment in the securities industry.

"Bad actors who commit securities fraud not only harm investors, but also erode public trust and weaken market stability," said Commissioner Vicki Schmidt. "The Department will continue to investigate these crimes and pursue justice to hold these individuals accountable."

This case was investigated by the Kansas Department of Insurance and prosecuted by the Kansas Attorney General's Office.

###