Lincoln Police were contacted in March of 2020 by a man who reported he invested $500,000 with 65 year old Douglas Cmelik back in 2013. Cmelik was operating then as an investment advisor. Cmelik had not been registered through the State of Nebraska as an investment advisor since 2012.
During the investigation, LPD found three other individuals who invested a total of $768,000 with Cmelik who was charging a fee for his services. All the victims reported losing a significant amount of money due to Cmelik investing in high risk stocks.
On Tuesday, October 12th, Cmelik turned himself into the Lancaster County Jail where he was arrested on four felony counts of sale of securities by an unregistered investment advisor.