New Jersey authorities say dozens of investors defrauded by convicted penny stock tycoon Robert Brennan will soon be receiving some restitution. State Attorney General Paula Dow announced today that checks totaling $1.54 million were being mailed to 72 investors. That comes after the New Jersey Bureau of Securities won a $45 million judgment against Brennan in 1999 and then...
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Financier Robert Brennan, in the courtroom of Superior Court Judge Michael Farren at the Monmouth County Courthouse in Freehold on Sept. 18, 2000 prior to his arraignment of charges of state bankruptcy fraud.New Jersey authorities say dozens of investors defrauded by convicted penny stock tycoon Robert Brennan will soon be receiving some restitution.
State Attorney General Paula Dow announced today that checks totaling $1.54 million were being mailed to 72 investors.
That comes after the New Jersey Bureau of Securities won a $45 million judgment against Brennan in 1999 and then began a protracted effort to track down assets they say Brennan had hidden, including a pension fund he had set up for himself.
Dow said investors who were defrauded by Brennan have until May 31 to submit claims for restitution with the court-appointed receiver overseeing the settlements.
Previous coverage:
• Judge denies N.J. move to reopen long-running Brennan bankruptcy case
• Brennan trust caught up in Ponzi scheme
• Investors to get $15.5M in case involving convicted N.J. businessman Robert Brennan
