BBC Equities Founder Busted At JFK In $50M Fraud Case

Law360, New York (May 6, 2011, 5:28 PM EDT) -- Authorities arrested John Bravata, founder and chairman of Michigan-based BBC Equities LLC, at John F. Kennedy International Airport in New York on Thursday and charged him with wire fraud for allegedly bilking investors out of $50 million in a real estate scheme.

Federal agents intercepted Bravata as he arrived from Italy, said Barbara McQuade, U.S. Attorney for the Eastern

District of Michigan. Bravata is accused of lying to investors to amass more than $50 million that he said was going to real estate investments. Instead, prosecutors...
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