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KID: Investors reminded to approach cryptocurrency with caution

KID

TOPEKA – With cryptocurrencies continuing to attract headlines, the Office of the Kansas Securities Commissioner reminds Kansas investors to be cautious about investments involving cryptocurrencies.

“Investors should go beyond the headlines and hype to understand the risks associated with investments in cryptocurrencies, as well as cryptocurrency futures contracts and other financial products where these virtual currencies are linked in some way to the underlying investment,” said John Wine, Securities Commissioner.

Logo for Bitcoin

Cryptocurrencies are a medium of exchange created and stored electronically in the blockchain, a distributed public database that keeps a permanent record of digital transactions. Current common cryptocurrencies include Bitcoin, Ethereum and Litecoin.

Unlike traditional currency, these alternatives have no physical form and typically are not backed by tangible assets. They are not insured or controlled by a central bank or other governmental authority, cannot always be exchanged for other commodities, and are subject to little or no regulation.

A survey of state and provincial securities regulators by the North American Securities Administrators Association (NASAA), of which the Office of the Kansas Securities Commissioner is a member, shows 94 percent believe there is a “high risk of fraud” involving cryptocurrencies. Regulators also were unanimous that more regulation is needed for cryptocurrency to provide greater investor protection.

“The recent wild price fluctuations and speculation in cryptocurrency-related investments can easily tempt unsuspecting investors to rush into an investment they may not fully understand,” said Ken Selzer, CPA, Kansas Commissioner of Insurance. “Cryptocurrencies and investments tied to them are high-risk products with an unproven track record and high price volatility.”

The securities office is a division of the Kansas Insurance Department.

Unlike an Initial Public Offering (IPO) when a company sells stocks in order to raise capital, an Initial Coin Offering (ICO) sells “tokens” in order to fund a project, usually related to the blockchain. The token likely has no value at the time of purchase. Some tokens constitute, or may be exchangeable for, a new cryptocurrency to be launched by the project, while others may give investors a discount, or early rights to a product or service proposed to be offered by the project.

Common Cryptocurrency Concerns

Some common concerns investors should consider before investing in any offering containing cryptocurrency include the following:

  • Cryptocurrency is subject to minimal regulatory oversight, susceptible to cybersecurity breaches or hacks, and there may be no recourse should the cryptocurrency disappear.
  • Cryptocurrency accounts are not insured by the Federal Deposit Insurance Corporation (FDIC).
  • The high volatility of cryptocurrency investments makes them unsuitable for most investors, especially those investing for long-term goals or retirement.
  • Investors will have to rely upon the strength of their own computer security systems, as well as security systems provided by third parties, to protect purchased cryptocurrencies from theft.

Common Red Flags of Investment Fraud

Commissioner Wine also reminds investors to keep watch for these common red flags of investment fraud:

  • “Guaranteed” high investment returns. There is no such thing as guaranteed investment returns, and there is no guarantee that the cryptocurrency will increase in value.
  • Unsolicited offers. An unsolicited sales pitch may be part of a fraudulent investment scheme.  Cryptocurrency investment opportunities are promoted aggressively through social media.
  • Sounds too good to be true. If the project sounds too good to be true, it probably is. Watch out for exaggerated claims about the project’s future success.
  • Pressure to buy immediately. Take time to research an investment opportunity before handing over your money.
  • Unlicensed sellers. Many fraudulent investment schemes involve unlicensed individuals or unregistered firms. The KSC can help investors research the background of those selling or advising the purchase of an investment. Call 800-232-9580 or go online at www.ksc.ks.gov.

Sheriff alerts residents to suspicious activity in Phillips County

PHILLIPS COUNTY — Law enforcement authorities are investigating a report of suspicious activity and alerting the public to secure their property.

Between 5:00 – 6:30 a.m., Thursday, the Phillips County Sheriff’s Office received two suspicious behavior calls in the 400 Block of Main Street and the 400 Block of Mill Street Logan, according to a social media report.

One call involved an unknown person(s) entering the home of an elderly woman.

The individual was spotted using a blanket or sheet to conceal their features by hiding behind it or wrapping it around themselves, according to the sheriff’s department.

The Individual was described as being approximately 5-foot-10, with a slim build.

Reporting parties stated that the individual moved swiftly, indicating that the subject is most likely a younger individual. 

Residents of Logan and the rest of Phillips County should make sure their homes, outbuildings and vehicles are secure and report any suspicious activity immediately to the Sheriff’s Office.

2 Kan. women charged in death of man found in burning house

Location of the November fatal fire-photo courtesy WIBW TV

LAWRENCE, Kan. (AP) — Two women are charged with first-degree murder in the death of a 34-year-old Eudora man whose body was found inside a burning house near Lawrence.

The Douglas County District Attorney said 38-year-old Tria Evans, of Lawrence, and 37-year-old Christina Towell, of Leavenworth, were charged Thursday. They are being held on $1 million bond.

Joel Wales was found dead Nov. 3 in the home south of Lawrence.

The Lawrence Journal-World reports that Evans is the mother of Wales’ child, and the two had several past domestic disputes. Towell does not have a record in the Douglas County court.

The sheriff’s office said it would not release further information about the homicide while the investigation is ongoing.

Police: Kansas couple jailed after chase, crash

Boase Jr. -photo Geary Co.

GEARY COUNTY  —Law enforcement authorities are investigating 2 suspects on multiple charges after a chase and crash.

On Wednesday, police arrested Holly Kathleen Boase, 30, and John Charles Boase Jr. 41, both of Emporia on multiple allegations including Fleeing and Eluding LEO, Damage to Property / Motor Vehicle Accident from Fleeing and Eluding, Reckless Driving and Theft against both, according to police.

Boase Jr. was also arrested on suspicion of No Proof of Insurance and Driving while License was Suspended plus a warrant from Chase County for an alleged Probation violation and a warrant from Saline County charging Failure to Appear.

Boase-photo Geary Co.

Holly was also arrested on a Chase County warrant alleging Probation Violation, a Salina Municipal Court warrant alleging Probation Violation, and McPherson District Court warrant charging Failure to Appear.

Both are being held in Geary County.

Car dealer can’t do business in Kansas anymore

Auto Acceptance Center in Topeka-google image

TOPEKA, Kan. (AP) — A former Topeka car dealer who didn’t keep a promise to donate to a memorial fund for a slain Topeka police officer can no longer do business in the state.

The Kansas attorney general’s office said Thursday that Justin Bogina, of Tecumseh, and his Topeka business, Auto Acceptance Center Corp., also must reimburse more than $25,000 to consumers.

Attorney General Derek Schmidt said shortly after Police Cpl. Jason Harwood was killed in the line of duty in September 2014, Bogina advertised that he would donate $100 per vehicle he sold during a specific time to the memorial fund. But he didn’t track sales during the time period and didn’t make a donation until an investigation began in April 2016.

A lawsuit claimed Bogina also repeatedly violated consumer protection laws over several years.

KHP: 2 hospitalized after chase, crash in stolen pickup

DICKINSON COUNTY — Two people were injured and another arrested after an accident during a chase in just before 10a.m. Thursday in Dickinson County.

The Kansas Highway Patrol reported a 2014 Ford F150 driven by Mathdaniel Joe Louis Squirrel, 21, Wichita, was traveling on Jeep Road five miles south of Interstate 70 fleeing from law enforcement.

The pickup left the roadway, traveled into a field, became airborne after striking a terrace and rolled to a stop.

Squirrel and a passenger Najah Yasmeen Martin, 17, Topeka were transported to Geary Community Hospital.

Another passenger Bradlee Marshal Ross, 21, Topeka was not injured and taken into custody by Geary County Deputies.

Squirrel and Martin were not wearing seat belts and the chase involved a stolen pickup according to the KHP.

Free Herndon Clinic hearing screening in Hoxie

FHSU University Relations

The second free hearing screening of the semester to be held in western Kansas by Fort Hays State University graduate students will be offered in Hoxie.

The screening will be from 9 a.m. to 1 p.m., Friday, Feb. 16, at the Hoxie Lodge No. 348, 840 Ninth Street, Hoxie.

“The FHSU Speech-Language Hearing Clinic is continuing into its second semester of its second year of providing hearing screenings sponsored by a grant from the Kansas Masonic Foundation,” said Marcy Beougher, speech-language pathologist and an instructor in the Department of Communication Sciences and Disorders.

The grant will provide numerous opportunities for older adults in western Kansas, and in some areas of eastern Colorado and southern Nebraska, to receive important health screening services that are currently scarce or difficult to access.

“This fall we had two successful screenings in St. Francis and Ulysses,” said Beougher. “Through these community screenings hosted by active Masonic lodges, we are trying to reach individuals who likely would not have access to a free hearing screening.”

The screenings will be provided by graduate students from the Department of Communication Sciences and Disorders under the supervision of an FHSU Herndon Clinic instructor.

Appointments may be scheduled ahead of time, but walk-ins will be welcomed on a first-come, first-served basis. Each site will have four stations, with each screening lasting approximately 15-20 minutes. Information about hearing loss and follow-up services available will be shared during the screenings. Free educational materials and earplugs will be provided by the Kansas Masons.

“The students are gaining excellent clinical experience as well as mandatory clinical hours from each screening,” she said. “We are grateful to the Kansas Masons for their support of this quality program.”

The final two screenings of the semester are tentatively scheduled for Greensburg and Syracuse.

To schedule an appointment for the Hoxie screening, contact Gary Shipley at 785-675-8586 or [email protected].

For more information, visit fhsu.edu/herndon-clinic/ or contact the Department of Communication Sciences and Disorders at 785-628-5366.

Kansas Wetlands Education Center to host Bat Fair

KWEC’s resident male big brown bat is ready for the Bat Fair on Feb. 11. Several bat-focused activities are planned, from kids’ crafts and a bat cave to a presentation on Kansas bats.

FHSU University Relations

Bats and their biology and value to people will be the subject of the Bat Fair from 2 to 4 p.m. Sunday, Feb. 11, at the Kansas Wetlands Education Center, 592 NE K-156 Hwy, Great Bend.

The fair will begin with a presentation by Sternberg Museum of Natural History zoologist Curtis Schmidt, who co-authored “Bats of Kansas.” He will give an informative report about several Kansas bat species, how scientists gather data on them and the fight to save bats from a devastating disease.

Following the presentation, children will be able to construct their own bats, complete a scavenger hunt in a “cave,” compare bat wing spans and “capture” and measure their own bats.

KWEC will have live brown bats as well as several Sternberg Museum bat specimens on display.

The fair will also have examples and instructions on how to construct bat boxes, which can be used to attract bats to the yard, controlling mosquitoes and other insect pests.

For more information, contact KWEC at 877-243-9268.

BS Troop 133 Pancake Feed Feb. 11

Boy Scout Troop 133, Hays, will hold a pancake feed fundraiser Sun., Feb. 11, 8 a.m. to 12:30 p.m. at the First Presbyterian Church, 2900 Hall.

The menu includes pancakes, sausage, scrambled eggs, juice and coffee. “Bierocks-To-Go” will also be available for purchase.

Prices are:
$6 for adults
$4 for children younger than 12
Free for children younger than 3

Please join us and help support our local Boy Scouts.

DSNWK establishes fund in memory of co-founder Dr. Homer B. Reed, Sr.

By STEVE KEIL
DSNWK

Developmental Services of Northwest Kansas announces a newly established fund in memory of co-founder Dr. Homer B. Reed, Sr.

The fund will help support the nearly 500 individuals with intellectual and developmental disabilities from the 18 counties DSNWK serves.

The descendants of Dr. Homer B. Reed, Sr. are setting up the memorial fund with a goal to raise $50,000 by the end of 2018. An anonymous donor will match up to $20,000 of all donations.

DSNWK, formerly the Homer B. Reed Adjustment and Training Center, opened its doors February 5, 1968 as one of the first workshops serving those with IDD in Kansas, and one of 40 in the U.S. DSNWK’s Reed Developmental Center is a living memorial to Dr. Reed’s work in Hays.

“This is an exciting re-connection for DSNWK to its past,” said DSNWK President/CEO Jerry Michaud. “This fundraising effort is reflective of the care and support of Homer B Reed and his family, friends and colleagues who desire to carry on the legacy started fifty years ago, supporting the mission of DSNWK into the future.”

To donate send checks made out to DSNWK with a memo of “Homer B. Reed” to Steve Keil, PO Box 310, Hays, KS 67601, or give online at www.dsnwk.org. DSNWK is a 501(c)3 nonprofit.

Dr. Homer B. Reed

More about Dr. Homer B. Reed, Sr.
Dr. Reed was a professor of education and psychology at Fort Hays State University (called Fort Hays Kansas State College at the time) from 1929 to 1956, and was the Chairman of the Psychology Department for many years. Before coming to Hays he taught at the University of Illinois, University of Idaho, (where he was asked to leave that institution after expressing his views that women should be granted the right to vote), Colorado College of Education, University of Pittsburgh, and Gunnison, Colo.

He attended Goshen College, earned his A.B. and A.M degrees at Indiana University, and in 1912, the Ph.D. in psychology at the University of Chicago. He also did special graduate work at Columbia University, NY, in 1913, and was a Fellow in Psychiatry at Kansas University Medical Center, 1951-52.

His dissertation “The Morals of Monopoly and Competition,” was cited by Supreme Court Justice Brandeis in one of the earliest cases to reach the Supreme Court arising out of the creation of the Federal Trade Commission. It is not clear, however, that Dr. Reed was ever aware of this application of his early work, and his subsequent research interests were all in psychology.

He was co-founder of the Fort Hays Psychological Clinic, helped organize and promote the High Plains Mental Health Clinic, and co-authored the once widely used Reed-Tracy Teaching Tests.

FHSU Psychologists within the department, including Dr. Reed, developed and operated the clinic specializing in the diagnostic assessment of children with intellectual and developmental disabilities. Those clinical services were made available to children in western Kansas including their families and their schools.

With the advent of World War II, the psychologists at FHSU were drafted into military service and the clinic that they developed became Dr. Reed’s responsibility. He had to refine his clinical skills and he had to make himself available in facing the problems that any psychological clinic presents. In doing this his interests in psychology changed. He not only worked with individuals referred to the clinic, he also worked actively with the state legislature in developing laws to identify and serve handicapped children. He maintained these interests for the remainder of his years as a psychologist.

Hays Community Acoustic Jam Saturday

The monthly Hays Community Acoustic Jam session will be held Saturday, February 3rd, from 2:00-4:00 p.m at the Hays Arts Center Annex, 1010 Main in Downtown Hays.

The sessions are held on the first Saturday of each month.

The local acoustic jam is a fun place for people of all skill levels to play acoustical instruments (guitars, banjos, fiddles, harmonicas, bass guitars, etc.) and to invite friends to enjoy music, whether you’re playing, singing, or listening.

All are welcome to listen or participate as little or much as you’d like!

For inquiries, please contact [email protected].

Police ask for help to locate SW Kan. pickup driver who hit 5-year-old

FORD COUNTY — Law enforcement authorities are investigating a hit and run accident and asking the public for help to find a vehicle and  driver.

Just before 2p.m. Saturday, officers responded to the area of 311 Kirk Street in Dodge City for a hit and run incident involving a 5-year-old child who ran across the road and was struck by a westbound red pickup that did not stop, according to Police Chief Drew Francis.

The child was transported to the hospital and flown out due to a head injury and a broken leg.

Police are investigating several leads, according to Francis.

“We are still looking to identify the vehicle and driver but we need the community’s help.  If you have any information or potential video covering this area or the area surrounding that may have captured this red pickup truck entering or leaving the area during this approximate time frame and have not already been contacted by the police, please contact us so we can review the footage.”

James L. ‘Jim’ Warren

James L. “Jim” Warren, 75, Hays, died Tuesday, January 30, 2018 at the Hays Medical Center.

He was born March 8, 1942 in Hays the son of John and Irene (Coupal) Warren. He graduated from Hays High School in 1960 and attended Fort Hays Kansas State College for two years. On October 16, 1965 he married Lynda Meyers in Kismet, Kansas. His career included oilfield insulation, home insulation, parking lot maintenance and striping, a drywall business, and cleaning pumping units. He was an entrepreneur, an inventor, an artist, he loved his work, and was a dedicated father of his two sons. He was a former board member for The Arc of Central Plains, was very active and a former board member of the Early Childhood Development Center, was a board member of Strokes of Genius, and a founder of Erik’s Originals.

Survivors include his former wife and caregiver since his diagnosis with ALL, Lynda Warren of Hays, two sons; Jason Warren and Erik Warren, both of Hays, a sister; Kay Howell of Pasadena, TX, a niece; Stacey Broers and husband Scott of Ozawkie, KS, and three nephews; Scott Warren of Topeka, Wesley Howard and wife Carol of Pasadena, TX and Rodney Howard and wife Brenda of Round Rock, TX, and numerous friends.

He was preceded in death by his parents, and two brothers; Charles “Pat” Warren and Doug Warren.

A celebration of Jim’s life will be at 2:00 pm on Saturday, February 3, 2018 at the North Oak Community Church, 3000 Oak Street, Hays. Burial will follow in the Ft. Hays Memorial Gardens Cemetery. Visitation will be from 1:00 pm until service time on Saturday at the church. Memorials are suggested to Bethesda Place, fierceloveparents.com, or to Strokes of Genius, Inc., in care of the Hays Memorial Chapel Funeral Home, 1906 Pine St., Hays. Condolences may be left for the family at www.haysmemorial.com

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