Adviser Gets 9 Years in Prison for Diverting Investment Funds
Self-styled “Financial Coach” also must pay $3.6 million in restitution for fraud Bryan C. Binkholder, a St. Louis-area financial adviser, was sentenced to nine years in prison and ordered to pay more than $3.6 million in restitution to clients who participated in a real-estate investment program Binkholder used to pay personal expenses and salaries. According to prosecutors, Binkholder used YouTube videos, a talk-radio show and books to hoodwink his clients. He also acted as a bank for real-estate developers looking to purchase, renovate and re-sell homes. However, Binkholder made only a small amount of these loans. Instead, he used the money -- millions...
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