LEESBURG, Ind. (WOWO): A Leesburg man was arrested Monday after police say he conned residents out of thousands of dollars by posing as a stock broker.

54 year old Ronald Thomas Miller is charged with six felony counts including securities fraud and money laundering, in connection with a scheme dating back to 2013. In January 2013, Miller allegedly met with two victims, a man and his girlfriend, and told them he was a licensed stock broker and could make them “a lot of money.”

Two more people decided to invest with Miller, with one investing $25,000 and another investing $50,000.

Detective Shane Bucher claims Miller admitted he was not a licensed broker. Miller is currently being held in the Kosciusko County Jail on a $75,000 bond.