Financial Advisor IQ – Content Page

 Financial Advisor IQ – Content Page

A federal grand jury has returned a seven-count indictment against a former Ohio financial advisor who allegedly fleeced investors with the help of a relative.

In 2015, Thomas Brenner, serving as president of broker-dealer and investment advice firm First American Securities, allegedly conspired with an unnamed person to get Brenner’s clients to purportedly invest in United RL Capital Services, a firm that supposedly financed medical laboratory developments, according to the U.S. Attorney’s Office for the Norther District of Ohio.

Some of the investors allegedly took out money from the individual retirement accounts to invest in URL, after Brenner and his co-conspirator said they would earn the money back with interest after three years, prosecutors allege.

Instead of investing the money as they promised, however, Brenner allegedly used it for his own benefit, “including large racecar-related purchases and to pay taxes,” the…

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