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Ex-Fargo investment broker Medhus pleads guilty to 16 felony charges in 'Ponzi' scheme

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FARGO – A former Fargo investment broker pleaded guilty this morning in Cass County District Court to 16 felony charges in what a state investigator described as a Ponzi scheme that bilked 19 people out of at least $935,000.

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Other than his pleas of “guilty,” Robert Medhus, 65, made no statement this morning in the hearing before Judge Frank Racek.

Medhus will be sentenced after a presentence investigation has been completed.

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