Aug 9
2012

John Arthur Mertens of Austin, who allegedly defrauded investors in a trading scheme, was indicted Aug. 9 in Bexar County district court on one count of securities fraud and one count of fiduciary misapplication.

According to the indictment, Mertens misrepresented to investors that he was a successful trader; said he was registered to sell securities when he was not; provided false account information; and took unauthorized fees.

Mertens also failed to tell investors he was operating a Ponzi scheme by paying investors with money from other investors.