investment fraud Tag

Lebanon insurance broker charged in $4M investment fraud

A Lebanon insurance broker was charged with six counts of Wire Fraud for a $4 million investment fraud.

by: Divine Triplett WISHTV.com INDIANAPOLIS (WISH) — A Lebanon insurance broker was charged with six counts of Wire Fraud for a $4 million investment fraud. He was arrested Wednesday and made his initial court appearance in Indianapolis Wednesday afternoon. According to court documents, Brian Simms, 44, of Lebanon, was a licensed insurance broker with his company Brendanwood Financial Brokerage LLC. Prosecutors say Simms wasn’t licensed to sell securities, nor was he registered to provide financial advising services. In 2013, court papers say Simms began convincing clients to cash out or liquidate their traditional and long-term insurance products and investments, and reinvest the funds with...

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Kentucky Fraudster is Sentenced to 10 Years for Investment Fraud

Kentucky Fraudster is Sentenced to 10 Years for Investment Fraud

A judge recently sentenced Kentucky resident, William S. Evans, to 10 years in prison for bilking a group of his friends, clients, and acquaintances out of more than $17 million dollars with fraudulent promises of high investment returns.  Instead of investing his clients’ monies, Evans used these funds to live a lavish lifestyle.  Most of those folks who were defrauded were elderly who took their hard-earned retirement accounts to invest with him based on his false promises of double-digit returns.  The crime spree extended from 2014 through 2020 before the house of cards Evans built came crashing down.  Evans provided...

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New Palestine man charged in $1.2M investment fraud scheme

A New Palestine man has been charged in the alleged theft of $1.2 million through investment fraud.

By Lydia Gerike of the Indianapolis Star A New Palestine man has been charged in the alleged theft of $1.2 million through investment fraud. Bruce Wayne Ford, 47, faces 11 counts of securities fraud, wire fraud and money laundering, according to a release from Josh Minkler, U.S. Attorney for the Southern District of Indiana. Ford was arrested Sept. 11. Court documents said Ford offered financial advising services through his Greenfield-based Ford Financial and Insurance Services, but neither he nor the company were properly registered to provide those services. “If one investor had checked his registration, his entire scheme would have crumbled," Secretary of State Connie Lawson said in the release. "I encourage...

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