National investment loss lawyers KlaymanToskes is investigating broker Thomas Brenner (CRD# 1489233) of First American Securities and Crown Investment Services, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) and the Securities and Exchange Commission (“SEC”), following his refusal to appear for FINRA requested on-the-record testimony regarding his involvement in the sale of three different private placements issued by persons or entities with which he had personal or business relationships.
FINRA’s findings stated that the regulator recently received tips or complaints from numerous investors who invested in one or more of these private placements, and who were concerned about their inability to contact the issuers, and the issuers’ failure to liquidate or redeem their investments and return the funds to these investors. These investors were generally members of Brenner’s hometown community in Orrville, Ohio, and many of them were seniors.
The SEC’s complaint alleged that from at least April 2013 through May 2015, Brenner participated in a fraudulent Ponzi scheme that defrauded investors through the sales of securities in issuers that purported to conduct legitimate business, but whose operations were apparently limited or non-existent. The complaint also alleged that Brenner offered and sold securities in these issuers to numerous investors, and provided investment advice to those investors and to potential investors. According to the complaint, Brenner told investors that their funds would be invested in the issuers, but instead, among other things, Brenner and others enriched themselves by misappropriating investor funds.
On April 12, 2023, Brenner pled guilty to one count of conspiracy to commit mail fraud and wire fraud in violation of Title 18 United States Code Section 1349, one count of conspiracy to commit securities fraud in violation of Title 18 United States Code Section 371, one count of committing mail fraud in violation of Title 18 United States Code Section 1341, one count of committing wire fraud in violation of Title 18 United States Code Section 1343, one count of securities fraud in violation of Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78j(b)], and Rule 10b-5 [17 C.F.R. § 240.10b-5] thereunder, and two counts of money laundering in violation of Title 18 United States Code Section 1957 before the United States District Court for the Northern District of Ohio, in United States v. Thomas Brenner, 5:21-cr-00772-DCN.
On October 31, 2023, an amended judgment in the criminal case was entered against Brenner. He was sentenced to a prison term of 125 months followed by three years of supervised release, and was ordered to make restitution in the amount of $3,487,938.89, of which $2,997,886.03 was jointly and severally owed with two co-defendants, and $733,456.85 was jointly and severally owed with a third co-defendant. In connection with the plea in the criminal case, Brenner admitted that: (a) Brenner participated with others in a scheme to defraud investors from March 2015 through May 2018; (b) The scheme involved the sale of fraudulent promissory notes issued in the name of issuers which Brenner knew actually had little to no substantial legitimate business activities; and (c) In connection with the scheme, Brenner solicited and defrauded numerous investors out of approximately $3,487,938.89 and used substantial portions of the investors’ money for his personal benefit.
Investors that suffered losses with broker Thomas Brenner are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The articles linked below contain important information relating to KlaymanToskes’ investigation of broker Thomas Brenner:
If you suffered losses with broker Thomas Brenner, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
*Exclusive of attorneys fees and costs.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Thomas Brenner. These signs could potentially indicate broker misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, brokerage firms such as First American Securities and Crown Investment Services are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate the specific circumstances of your case is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Thomas Brenner or have concerns regarding your investment portfolio at First American Securities and/or Crown Investment Services, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss recovery options.