STATE v. LUNDBERG

No. 114,897 114,898.

445 P.3d 1113 (2019)

STATE of Kansas, Appellant, v. David G. LUNDBERG and Michael L. Elzufon, Appellees.

Supreme Court of Kansas.

Opinion filed July 19, 2019.


Attorney(s) appearing for the Case

Kristafer R. Ailslieger , deputy solicitor general, argued the cause, and Thomas E. Knutzen , deputy director of policy and senior staff attorney, and Joshua A. Ney , Ryan A. Kriegshauser , and Christopher D. Mann , of the Office of the Kansas Securities Commissioner, and Derek Schmidt , attorney general, were with him on the briefs for appellant.

David L. Miller , of Ney, Adams & Miller, of Wichita, argued the cause, and Richard Ney , of the same office, was with him on the briefs for appellee David G. Lundberg.

Kurt P. Kerns , of Ariagno, Kerns, Mank & White, LLC, of Wichita, argued the cause and was on the briefs for appellee Michael Elzufon.

Zachary T. Knepper , deputy general counsel, and A. Valerie Mirko , general counsel, North American Securities Administrators Association, Inc., of Washington, D.C., and Alan V. Johnson , of Sloan, Eisenbarth, Glassman, McEntire & Jarboe, LLC, of Topeka, for amicus curiae North American Securities Administrators Association, Inc.


The State filed many criminal charges of selling or offering to sell unregistered securities and committing fraud in selling or offering to sell securities against Minnesota residents David Lundberg and Michael Elzufon. Lundberg and Elzufon, as principals for Kansas limited liability corporations, sold what the State alleges to be securities...

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