5 Top Brooke Execs Settle SEC Fraud Claims

Law360, New York (May 4, 2011, 6:08 PM EDT) -- Five of six former executives affiliated with Kansas-based Brooke Corp. settled the government’s claims that they engaged in a massive financial fraud that tumbled the insurance holding company's subsidiaries into bankruptcy, the U.S. Securities and Exchange Commission said Wednesday.

The settling defendants, Brooke founder Robert D. Orr, his brother Leland G. Orr, Michael S. Lowry, Michael S. Hess and Travis W. Vrbas, all are former CEOs or former chief financial officers of Brooke affiliates Brooke Capital Corp. and Aleritas Capital Corp.

Without admitting or denying the...
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