Jason Juberg and Others Plead Guilty and Act as Witnesses in the Prosecution of David McQueen

Jason Eric Juberg, a Michigan resident, pleaded guilty to charges involving the sale of unregistered securities and was sentenced to 5 years imprisonment, in connection with the allegedly fraudulent investment scheme perpetrated by David Wilson McQueen. The case against his father, Donald Juberg, will be dismissed as part of a plea bargain whereby both will testify against David McQueen, the primary target of the government’s investigation.

McQueen, a Byron Township resident, stands charged with 122 counts of mail fraud, money laundering, conspiracy to defraud, and security fraud before the U.S. District Court in Grand Rapids. These charges are in relation to the scheme he allegedly perpetrated with Juberg, which involved the sale of unregistered securities.

“In this case, Jason Juberg, knew that insurance agents working for his agency, American Benefit Concepts, sold millions of dollars of unregistered securities … , Defendant did nothing to prevent the sale of those securities, and gave misleading responses to state regulatory authorities investigating the sale of those securities in order to conceal the crime.” Assistant U.S. Attorney Matthew Borgula wrote in the plea agreement.

Trent Francke, of Byron Township, former business partner of McQueen, also pleaded guilty to Federal charges and agreed to testify against McQueen.

Borgula alleged that trust insurance agents “funneled tens of millions of dollars into the scheme orchestrated by McQueen and Francke.” The cash went to their own pockets and pay returns to the early investors to give the illusion that the investment was paying off.

Penny Hodge, of Sedona, Ariz., has pleaded guilty to structuring a transaction to avoid a bank having to report a currency moves over $10,000, and failure to file a tax return.

John Bertuca, Coloma, is sentenced to one year and one day of imprisonment for filing a false tax return. Both Hodge and Bertuca agreed to testify against McQueen.

The Peiffer Wolf securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting investors with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no obligation evaluation of their recovery options, at 585-310-5140.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.