3/27/13 - A Brighton Township businessman has been found guilty on all counts as part of a federal fraud trial. The federal jury has been deliberating for a week now and returned the verdict this afternoon. John Bravata was found guilty of a single count of conspiracy to commit wire fraud and 14 counts of wire fraud. His son Antonio was found guilty on one count of conspiracy to commit wire fraud but was acquitted on two separate wire fraud charges. The trial began in late January, with Bravata taking the stand in his own defense. His business partner, Richard Trabulsy, previously pleaded guilty to wire fraud and testified against him. The federal government says the three men misled 440 investors while collecting millions of dollars for BBC Equities, which operated out of Brighton Township. Bravata repeatedly denied any fraud and 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. Both John and Antonio Bravata are scheduled to be sentenced June 18th by U.S. District Court Judge Paul Borman. (JM)
↧