A Nebraska man who pleaded guilty to securities fraud has been ordered to spend five years in prison and repay $6.8 million to his victims.
U.S. District Judge Lyle Strom sentenced 47-year-old Bryan Behrens of Omaha on Monday.
Prosecutors say Behrens lured mostly elderly investors under false pretenses and used their money to buy luxury items for himself and to pay off some early investors.
Authorities say Behrens, who founded the Omaha-based 21st Century Financial Group, collected more than $8 million from about 25 investors.
Prosecutors say much of that money went to Behrens’ lavish lifestyle that included two homes, several luxury cars, jewelry and a Husker bus he used to take friends and family to tailgating parties at Nebraska football games.