3/20/13 - The fate of a Brighton-area businessman is now in the hands of a federal jury. John Bravata is accused of misleading investors as he collected millions of dollars for BBC Equities, which he operated out of Brighton Township. Prosecutors say the father and son, along with their business partner, raised more than $50 million from 440 investors for the purpose of purchasing real estate as an investment. Instead, authorities say they spent the money on luxury homes, vacations and cars. Bravata has denied any fraud and says he was taking legitimate stakes in real estate that simply turned sour during the recession. The jury trial began in late January, with Bravata taking the stand in his own defense. He is charged with a single count of conspiracy to commit wire fraud and 14 counts of wire fraud. His son, Antonio Bravata, is charged with one count of conspiracy to commit wire fraud and two counts of wire fraud. John Bravata's partner, Richard Trabulsy, previously pleaded guilty to wire fraud in a plea deal that called for him to testify for the prosecution. 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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