United States v. John Bravata

COOK, Circuit Judge.

John Bravata lied to investors in BBC Equities, LLC, the investment fund he co-founded with Richard Trabulsy. He claimed to follow two money-management rules. Rule Number One: protect investors’ principal. Rule Number Two: obtain the highest rate of return without breaking Rule Number One. In reality, however, Bravata paid returns with new investors’ principal. Following a thirty-nine-day trial, a jury convicted Bravata of fourteen counts of aiding and abetting wire fraud in violation of 18 U.S.C. §§ 2,1343. The jury also found that Bravata conspired to commit wire fraud…