Afghan Killings Suspect Owes $1.5 Million in Fraud Case

Monday, 19 Mar 2012 11:52 PM

 

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FORT LEAVENWORTH, Kan. — The soldier accused in the massacre of 16 Afghan civilians owes $1.5 million from a 2003 arbitration ruling that found him guilty of securities fraud.

The National Association of Securities Dealers found that Robert Bales, another man, and his company "engaged in fraud, breach of fiduciary duty, churning, unauthorized trading and unsuitable investments."

Records show Gary Liebschner of Columbus, Ohio, filed the complaint in 2000, when Bales was a stockbroker.

The arbitration panel found Bales' conduct "fraudulent and malicious."

An Ohio TV station quotes Liebschner's wife as saying that the panel asked Bales to sell stock to pay medical bills but never received the proceeds.

About 1½ years after the complaint was filed, Bales enlisted — just two months after the 9/11 attacks.

Bales hasn't been charged in the Afghan killings.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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