My Icis Inc., Closed for Allegedly Cheating Clients Out of More Than $3.5 Million

My Icis, an on-line investment and digital money order service, operated by Wayne and Lori Hicks, was ceased by federal agents Feb. 23 after receiving some 29 complaints from clients of My Icis Inc., reporting they had deposited funds with Hicks equaling to more than $1.5 million and were unable to access their money.

Hicks is well known in the community for having had several business' in and around Carroll County including shows in Branson. Which have also been said to be funded by the money that Hicks clients had deposited with him.

The Hicks operated My Icis and another one of his business'-- Americans for Lawful Financial Independence and Information Pool Funds ( ALFII) from a log cabin on highway 62 in Berryville, Arkansas until federal agents served a cease and desist order. At that time, according to the Carroll County News, David Smith, an attorney for the Arkansas Securities Department, said that they were cooperating with the Internal Revenue Service, which had served a felony warrant on My Icis last May, occupied the building and left with boxes of documents. Smith also confirmed that the FBI and IRS have an ongoing criminal investigation against Hicks and My Icis.

Numerous cases have been brought against Hicks and My Icis, Inc. The bulk of them being handled by one Rogers attorney, Vicki S. Vasser-Murray.

Vasser-Murray is handling one Arkansas company and 10 out-of-state plaintiffs who collectively claim to have deposited nearly $2.5 million with My Icis, Inc., by which they were promised to be able to have their funds on demand.

Other cases include a Delaware company claiming to have deposited $700,000 represented. The same attorney represents an individual from Brooklyn, NY who claims he had tried to transfer money from the account but had failed transfers. When he called inquiring about the error, My Icis staff told him that his account had been reduced by the transfer and that his account, equalling in about $600,000 had been frozen. A direct violation of the terms of agreement.

The Carroll County News states that according to the plaintiffs in the lawsuit, Hicks knowingly provided false information on the web site, claiming that the government and banking officials were freezing the accounts because of suspicious activity. He also posted notices on the website claiming fraudulent transactions by non-account holders had caused the the accounts to be frozen to perform audits.

In addition to the court filings, Carroll County News stated that the state securities department have a list of individuals who claim to have invested in My Icis and another of Hicks' web-based business'-- ALFII.