Former Bentonville residents accused of securities fraud


LITTLE ROCK — The Arkansas Securities Department said Friday it has filed a complaint accusing two former Bentonville residents of securities fraud.

The complaint, filed in Pulaski County Circuit Court, alleges that Dennis F. Robinson and his wife, Jan Richey Robinson, now of St. Petersburg, Fla., sold unregistered securities and committed securities fraud when they offered to sell investors membership interests in Interactive Digital Systems LLC and RMI Group LLC, which the Robinsons own.

The Robinsons allegedly persuaded investors to give them $181,000 by falsely claiming that the companies owned the patents to kiosk software and hardware that were on the verge of being placed in national and multinational retail store chains.

They also allegedly failed to disclose that a prior investor­ had sued them for fraud and obtained­ a judgment against them in Benton County Circuit Court.

Financial records show that the Robinsons used the money they received from investors for personal expenditures such as meals, entertainment, clothing, luxury items and vacations, according to the complaint.

The Securities Department is seeking an order enjoining the Robinsons from selling unregistered securities or committing securities fraud and an order requiring them to pay restitution to investors, plus a civil penalty equal to the amount of investment funds they received.

No listed number was available Friday for Dennis or Jan Robinson in St. Petersburg.