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Ex-Investment Exec In Texas, Florida Gets 25 Years

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(credit: AP Graphics)

(credit: AP Graphics)

DALLAS (AP) – A former investment firm executive convicted of defrauding senior citizens in Texas and Florida has been sentenced to 25 years in federal prison.

A judge in Dallas on Monday sentenced 40-year-old Jeffrey Charles Bruteyn.

A jury in April 2010 convicted Bruteyn on nine counts of securities fraud related to a more than $50 million scam. Prosecutors say many of the victims were retirees and their investment money went for Bruteyn’s personal use.

Bruteyn is a former managing director of Dallas-based AmeriFirst Funding Corp. and AmeriFirst Acceptance Corp., both now defunct.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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