Secretary of State Robin Carnahan has issued a cease and desist order against a Lee’s Summit man she accuses of defrauding two sisters of more than one million dollars.
Carnahan accuses Mark Greenway of defrauding the sisters out of $1.3 million, spending the money on himself rather than investing it for the sisters. According to the Secretary of State, the sisters initially gave Greenway $630,000 of their inheritance. They gave him more over the next few years. The order alleges Greenway opened a joint checking/savings account in each of the sisters’ names as well as his own. It accuses Greenway of using the money to buy classic cars for himself, pay for personal household expenses and even take out certificates of deposit for both himself and his wife.
A spokesman for Carnahan, Laura Egerdal, says Greenway is not registered to sell securities in Missouri. An investigation by the Secretary of State’s office disclosed that Greenway was previously found by the Securities and Exchange Commission to have committed fraud which led the Federal District Court in Kansas City to enter a prior Order of Permanent Injunction against Greenway based on the SEC findings.
Greenway has 30 days to request a hearing on the charges.
For more information regarding investments and fraud protection, visit the Secretary of State’s online Missouri Investor Protection Center at or call the toll free Investor Protection Hotline at 1-800-721-7996.