A Cape Girardeau man was arrested on charges of financial exploitation and forgery, according to a news release sent Wednesday by Scott County Sheriff Rick Walter.

Keith Lars Monia, 52, was arrested on suspicion of two counts of financial exploitation of the elderly and two counts of forgery.

Sgt. Branden Caid, who investigated the case, was cited in the news release saying Monia sold two annuity plans to an elderly Scott County couple between 2010 and 2012. Monia allegedly collected $220,000 from the couple but never set up the plans. Authorities believe Monia placed the money in his personal accounts and an online trading account, the release said. Monia's bond is set at $75,000.

Monia also is being sued by a Jackson man who said Monia took $80,000 that was supposed to be placed in an annuity. Monia last month told the Southeast Missourian he thought the money was given to him. A jury trial is set for July 30.