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State revokes registration for Grand Blanc area investor accused of embezzlement

The Michigan Department of Licensing and Regulatory Affairs has revoked the registration of a local investment advisor accused of embezzling nearly $300,00 from clients. (Photo: WEYI/WSMH)

ATLAS TOWNSHIP, Mich. – The Michigan Department of Licensing and Regulatory Affairs has revoked the registration of a local investment advisor accused of embezzling nearly $300,00 from clients.

LARA’s Corporations, Securities & Commercial Licensing Bureau issued a Final Order revoking the registrations of Jason Besco and his Grand Blanc firm Research Money Management, LCC.

Bescoe, an Atlas Township resident, was arraigned in August 2017 on a felony charge of embezzlement of $100,000 or more, a 20-year felony.

“The Michigan Uniform Securities Act prohibits dishonest or unethical practices in the securities industry, our bureau will continue to take strong regulatory actions to protect the public,” said licensing bureau Director Julia Dale.

The Genesee County Sheriff’s Office says Bescoe allegedly used the money to pay off his house.

RELATED:

Local country club owner arraigned on embezzlement charges

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