JACKSON, MS (WDAM) - This is a news release from the Mississippi Attorney General's Office.
Dondi Lee Cotton, 53, of Vicksburg, has been arrested and charged with felony false pretense, announced Attorney General Jim Hood and Secretary of State Delbert Hosemann.
Cotton turned himself into authorities Wednesday following a recent indictment by the Warren County Grand Jury on four counts of felony false pretense.
Beginning in April 2010, when the crimes allegedly started to occur, Cotton made false promises to investors in order to obtain their signature on documents and their monetary investments.
The defendant was booked into the Warren County jail. If convicted, he faces up to 10 years behind bars and a $10,000 fine for each count. As with all cases, the defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
“Mississippi investors should have confidence when investing their dollars,” said Secretary of State Delbert Hosemann. “Our Office does not tolerate securities scams by dishonest individuals who claim to be investment advisors who take advantage of hard working Mississippians. We appreciate the Attorney General’s Office for their swift work on this case.”
Attorney General Hood concludes, “We appreciate the dedication and great work done by the Secretary of State’s Office on this case, and we look forward to presenting their findings in court.”
This case is being investigated by Investigator Phil Hull, of the Secretary of State’s Office and Investigator Ronnie Odom, of the Attorney General’s Public Integrity Division.
Prosecution of the case will be handled by Special Assistant Attorney General Larry Baker.