3/19/13 - Closing arguments are expected today in the trial of Brighton businessman John Bravata. Bravata is accused of misleading investors as he collected millions of dollars for BBC Equities, which he operated out of Brighton Township. He denies any fraud and says he was taking legitimate stakes in real estate that simply turned sour during the recession. The jury trial got underway in late January. Bravata has taken the stand the last several days to testify in his own defense. The Livingston County Daily Press & Argus says that a recording of a conversation between Bravata and an investor was played in court Monday in which Bravata was heard to say that there are three types of investors, those who live on their dividends, those who didnât need the money and a third type he said (quote) âcan rot in hell.â Bravataâs defense has maintained his fundraising efforts were made in good faith and that his company only failed after the Securities & Exchange Commission filed suit against him, triggering an investigation that led to the criminal charges. (JK)
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