As I was preparing to post this blog, it became painfully clear that this type of behavior seems to be on the increase or at least it’s becoming more apparent.
Bryan Scott Behrens, 47, of Omaha, Nebraska, pleaded guilty to securities fraud charges admitting he bilked investors out of at least $3.5 million in a Ponzi-type investment fraud scheme. According to prosecutors, Behrens promised to invest client funds in Nevada real estate, but instead used the money for his businesses in Omaha, paid out money to early investments and used the rest for personal expenses.
The SEC charged that from 2002 to 2007, Behrens operated a Ponzi-like investment scheme, raising $6.5 million from investors, including senior citizens, and misappropriating more than $3.5 million of those funds. He promised investors returns of up to 9 percent per year. Behrens was the owner of Bryan Behrens Company, Inc., 21st Century Financial Group and National Investments, Inc., as well as the owner of a local flower shop.
Read the original complaint here. comp20427
What motivated this behavior? If you know Behrens – feel free to share your thoughts on his motivation to effect such a crime.
YOUR COMMENTS ARE WELCOME