WICHITA, Kan. (AP) — An affidavit in a securities fraud case alleges the developers violated Kansas securities law in raising money to buy more than a dozen downtown Wichita buildings.

The Wichita Eagle reported reported Friday that the document alleges developers Michael Elzufon and David Lundberg sold unregistered securities. It also alleges they failed to supply required information to investors and frequently didn’t use investors’ money as agreed.

The Kansas Securities Commission alleges investors, many of whom lived in California, lost $3.5 million. Its affidavit lists 61 counts of fraud.

Elzufon’s defense attorney, Kurt Kerns, says if the developers had succeeded in what they tried to do, nobody would be complaining. Lundberg blamed the credit crunch and recession.

The newspaper obtained the affidavit, filed in February, through an open records request.