Las Vegas couple arrested on fraud charges

A Las Vegas couple has been charged with 25 felony counts for allegedly violating state securities laws.

Lawrence Yanez and his wife, Emily, are accused in a scheme which allegedly cheated three senior citizens out of more than $175,000.

Yanez, 50, was ordered held in lieu of $440,000 bail. He faces nine counts of securities fraud, three counts of offering for sale an unregistered security, nine of transacting business without a proper license and one of racketeering.

Emily Yanez, 30, was held in lieu of $60,000 bail on two counts of securities fraud and one of racketeering.

They allegedly pitched stock in a medical billing-services business and a body-scanning center, promising investors monthly dividend checks and safe, high-interest accounts.

According to Secretary of State Dean Heller, investigators say Yanez isn't licensed to sell securities in Nevada, nor are the shares of stock licensed for sale in the state.