Ex-Business Partners Facing Fraud Charges
By DEREK SIMMONSEN
February 21, 2007
FORT PIERCE ˜ Leonard Bogdan was either the head of a complicated scheme to fleece investors out of millions or a poor manager who tried but couldn't revive a failing business venture.
Those two very different versions of Bogdan were presented to jurors during opening statements Tuesday as his federal fraud trial began.
Bogdan, 55, stands accused alongside his former business partner, John Brant, 64. Both men are charged with multiple counts of mail fraud and a single charge of conspiracy to commit mail fraud in connection with the operation of Bogdan Financial in Port St. Lucie and One Source Financial in Stuart. Bogdan also faces charges of money laundering.
Bogdan and Brant began recruiting investors in 1998, promising a return of at least 10 percent and the money would be secured with real estate ˜ a recorded first lien mortgage on property, according to Assistant U.S. Attorney Diana Acosta.
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February 21, 2007
FORT PIERCE ˜ Leonard Bogdan was either the head of a complicated scheme to fleece investors out of millions or a poor manager who tried but couldn't revive a failing business venture.
Those two very different versions of Bogdan were presented to jurors during opening statements Tuesday as his federal fraud trial began.
Bogdan, 55, stands accused alongside his former business partner, John Brant, 64. Both men are charged with multiple counts of mail fraud and a single charge of conspiracy to commit mail fraud in connection with the operation of Bogdan Financial in Port St. Lucie and One Source Financial in Stuart. Bogdan also faces charges of money laundering.
Bogdan and Brant began recruiting investors in 1998, promising a return of at least 10 percent and the money would be secured with real estate ˜ a recorded first lien mortgage on property, according to Assistant U.S. Attorney Diana Acosta.
Continue Reading...
