Washington Man Accused Of Racketeering Charges In Oregon

MEDFORD, Ore. (AP) — A man from Washington is accused of selling unregistered securities to elderly people in Southern Oregon – then stealing the investments.

But 50-year-old Michael Frazier, of Spokane Valley, says he’s Not guilty of racketeering.

If found guilty, Frazier could spend up to 20 years in prison. Frazier allegedly sold up to $310,000 of fake annuities to clients.

He remains in the Jackson County jail on securities fraud charges and eight counts of aggravated theft, among other charges.