Replies to post #65696 on Indocan Resources Inc. (IDCN)

[cincy]

Thanks for that update. Should be interesting whether she decides to cooperate with the government.

[Cassandra]

It's good to see a fraudster caught and on her way to prison, but her maximum fine was only $250,000 after defrauding investors of $1 million. Unfortunately criminal fines aren't like civil disgorgement orders in SEC actions, some of which might compensate the victims for at least some of their losses.

This is the worst of it:

According to court documents and statements made in court, between approximately March 2009 and November 2011, Brass represented herself as a successful investment advisor and solicited funds from investors, including investors who were elderly and in a vulnerable physical condition.

http://www.fbi.gov/newhaven/press-releases/2012/washington-depot-resident-admits-defrauding-investors-of-more-than-1-million

[Cassandra]

Robin Brass Bruhjell was scheduled for sentencing yesterday. Does anyone know the outcome?

Brass is scheduled to be sentenced by United States District Judge Mark R. Kravitz on July 18, 2012, at which time Brass faces a maximum term of imprisonment of 20 years and a fine of up to $250,000.

http://www.fbi.gov/newhaven/press-releases/2012/washington-depot-resident-admits-defrauding-investors-of-more-than-1-million

FWIW, I don't think her case had anything to do with the SEC suspension of IDCN. The vast majority of the money she took in was never invested anywhere. It was used for personal and family expenses or to make lulling payments to concerned investors.