Former North Miami Beach Mayor Myron Rosner was charged with securities fraud for allegedly misappropriating $150,000 in investor funds, the Miami-Dade State Attorney’s Office announced Tuesday.

Rosner was charged with four felonies after the office investigated Dr. David Rosenbaum’s investment in a limited partnership that had a goal of developing 2.2 acres of vacant land in North Miami, according to the state attorney’s office.