He May Have Given Many the Business

In the eyes of law enforcement, David T. LeVaughn is no cheap date.

LeVaughn allegedly answered personal ads placed by single women, portraying himself as a suitor and successful stock investor, then bilking them in a fraudulent investment scheme. He’s under indictment in Memphis, Tenn., for theft and state securities law violations.

The Securities and Exchange Commission accuses him in a civil complaint of fraudulently soliciting more than 100 potential investment clients, a quarter in Southern California. Many had placed personal ads in the Los Angeles Times, Los Angeles Magazine, New York Magazine, Chicago Magazine, the Miami Herald and the Memphis Flyer. Authorities say he bilked eight of them out of $180,000 this way.

The SEC says that, like many swains eager to impress, LeVaughn left out a few things when he contacted the women--such as convictions for theft, shoplifting and bad checks.