Kansas courts spokesman Ron Keefover told The Topeka Capital-Journal that something called the Client Protection Fund will pay up to $350,000 to victims of Robert M. Telthorst. The 52-year-old was sentenced last month to five years in federal prison for wire fraud and money laundering.
He also was ordered to repay $537,680.
Telthorst admitted that he defrauded clients from November 2005 to August 2011 by taking money for his benefit and to cover money taken from other clients.
U.S. Attorney Barry Grissom said one of the clients Telthorst defrauded was a charitable trust of $80,000 for the University of Kansas School of Business.