Lebanon insurance broker charged in $4M investment fraud

by: Divine Triplett WISHTV.com INDIANAPOLIS (WISH) — A Lebanon insurance broker was charged with six counts of Wire Fraud for a $4 million investment fraud. He was arrested Wednesday and made his initial court appearance in Indianapolis Wednesday afternoon. According to court documents, Brian Simms, 44, of Lebanon, was a licensed insurance broker with his company Brendanwood Financial Brokerage LLC. Prosecutors say Simms wasn’t licensed to sell securities, nor was he registered to provide financial advising services. In 2013, court papers say Simms began convincing clients to cash out or liquidate their traditional and long-term insurance products and investments, and reinvest the funds with...

Continue reading