A Huntsville woman was recently indicted for multiple violations of the Alabama Securities Act, according to a press release from the Alabama Securities Commission.

Kimgirl Joy Bias, also known as Kimberly Joy Dixson Scott, is accused of illegally offering stock to an out-of-state investor while acting as an agent for Modernday Multimedia, Inc., a Huntsville company.

Bias was not registered with the ASC to offer or sell investments within, into or from Alabama, as required by the Alabama Securities Act.

The indictment further alleges she told the victim in exchange for the investment they would receive significant returns of $100,000 within a short period of time, which the victims never received, nor did they receive the principal amount of their invested funds.

Bias is currently incarcerated in Ohio on unrelated charges. The state of Alabama is currently seeking to have Bias returned to Madison County to face the securities charges.

The indictment against Bias charged her with one count each of sale of unregistered securities and sale of securities by an unregistered agent. Additionally, Bias was charged with one count of fraud in connection with the sale of securities (employing a device, scheme or artifice to defraud) and one count of first-degree theft by deception.

The registration charges are Class C felonies, punishable by incarceration in the state penitentiary between one year and a day to no more than 10 years, and a possible $15,000 fine per charge upon conviction. The fraud and theft charges are Class B felonies, carrying a possible sentence of not less than two years and not more than 20 years’ incarceration and a possible fine of $30,000 per charge, upon conviction.