8th Circ. Nixes Fraud Sentence In $8M Ponzi Case

Law360, New York (July 13, 2011, 6:50 PM EDT) -- The Eighth Circuit on Wednesday said a Nebraska federal court should have allowed a man convicted of securities fraud to assert he had no knowledge of the rule he was accused of breaking, and should focus on whether he can prove this claim.

Bryan Behrens, the former president and chief financial officer of 21st Century Financial Group Inc. in Omaha, Neb., was sentenced in November to five years in prison and ordered to pay $6.84 million in restitution after pleading guilty to one count of securities...
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