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Jury Gets Scam Case Involving Millions

By Ron Chapman

By Sarah Prohaska Palm Beach Post Staff Writer Thursday, March 08, 2007 FORT PIERCE — A jury deliberated for more than four hours Wednesday and will return today to mull the fate of two men accused of orchestrating a complex scheme that prosecutors say defrauded elderly investors out of millions of dollars. The jurors will meet at the federal courthouse at 9:30 a.m. to resume deliberations in the trial for Leonard Bogdan Jr. and John Brant, who investigators say created a so-called Ponzi scheme between 1998 and January 2001 that took more than $16 million from mostly retired investors. Some of those retirees say they lost their life savings when they invested in the Bogdan Financial Group or several other related companies. "The reason we are here today is because the investors who gave close to $17 million, at the end of the day, had nothing to show for it," Assistant U...continue to full post

Full post as published by Palm Beach Criminal Defense Blog on December 09, 2007 (boomark / email).