Iowa man charged with running investment scam - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa man charged with running investment scam

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NEVADA (KWWL) - A Collins man has been charged with first-degree theft for allegedly running an investment scam.  Investigators said he deceived an investor out of $30,000.

The Story County Sheriff's Office said Michael Cross told the victim that the money would be invested with a legitimate insurance company.

When the victim asked Cross for an update on his funds, Cross said the money had been invested with an internet-based company named "Commercial Internet Services."

The investigation shows that Commercial Internet Services is a bogus company and that Cross could not provide documents showing where the money had been invested.

Online Executive Producer Nate Leding

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