9/24/13 - An investment manager from Livingston County who left many people broke has been sentenced, albeit to less time than his victims or the prosecution would have preferred. 45-year-old John J. Bravata was sentenced to 20 years in prison Monday for each of his 15 counts of wire fraud and conspiracy to commit wire fraud. Prosecutors asked that he serve those sentences consecutively, which would have essentially kept him behind bars for life. But the judge ordered that he serve them concurrently as a single 20 year sentence. That decision came after the judge heard from six investors, including 63-year-old Patricia Philliben of Milford, who lost more than $600,000. She said she had âscrimped and savedâ for a comfortable retirement and even helped send her nephews to college. Not anymore. Philliben said sheâs been âlied to, take advantage of and humiliated beyond belief.â Another to speak was 81-year-old Carmen Cassar of Redford, who said despite being a dedicated Catholic, she could not forgive Bravata. The government says Bravata, his son Antonio and business partner Richard Trabulsy defrauded around 500 investors, costing them more than $40 (m) million. The money was collected for BBC Equities, which operated out of Brighton Township. The government said the real estate scheme was "complex ... and devastating" for investors, and that Bravata could have thrived in any honest occupation but chose to pursue riches through financial crimes. He has repeatedly denied any fraud. Still to be sentenced are Antonio Bravata, who was found guilty of one count of conspiracy to commit wire fraud. Trabulsy pleaded guilty to wire fraud and is also awaiting sentencing. (JK)
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