Ex-Investment Exec Gets 25 Years for Defrauding Seniors
Tuesday, Mar 15, 2011 Updated at 10:15 AM CDT
A former investment firm executive convicted of defrauding senior citizens in Texas and Florida has been sentenced to 25 years in federal prison.
A judge in Dallas on Monday sentenced 40-year-old Jeffrey Charles Bruteyn.
A jury in April 2010 convicted Bruteyn on nine counts of securities fraud related to a more than $50 million scam. Prosecutors say many of the victims were retirees and their investment money went for Bruteyn's personal use.
Bruteyn is a former managing director of Dallas-based AmeriFirst Funding Corp. and AmeriFirst Acceptance Corp., both now defunct.
Copyright Associated Press