Kevin Brown Imprisoned for 3 Years for $1.6 Million Ponzi Scheme
Kevin Brown, the 40-year old owner of Invision Investments, pleaded guilty to four counts of wire fraud and was sentenced to 3 years in federal prison for operating a Ponzi-style investment scheme.
Brown misrepresented to existing and potential investors that their investment would be used to buy and rehabilitate real estate properties and that profit from the turnover sale would fully account for the promised rate of return. Unfortunately, only a portion of the investment was actually allocated for that purpose, the rest was then used to pay his other business and personal expenses.
Brown then fraudulently and falsely executed several promissory notes and misrepresented them as the investor’s return on investment. However these notes were funded from the investment of subsequent investors, which eventually stopped when he found no new investors.
Brown was also ordered by the court to pay more than $1.6 million as restitution to his victims.
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.