Glasgow Daily Times, Glasgow, KY

Local News

September 5, 2012

Leber pleads guilty, faces 20 years

Defrauded clients of more than $2M

BOWLING GREEN — A Barren County financial advisor accused of defrauding clients of about $2.4 million pleaded guilty in federal court on Tuesday.

Jonathan Neal Leber, 36, of Glasgow, appeared in Bowling Green federal court on a one-count indictment for “devising a scheme to defraud and to obtain money and property by means of false and fraudulent pretenses, representations, and promises” on behalf of his business, Intrepid Financial Strategies, Inc., according to a release by the United States Attorney for the Western District of Kentucky.  

He pleaded guilty before Chief Judge Joseph H. McKinley in U.S. District Court.

The indictment states that between Aug. 1, 2007, and Jan. 14, 2011, Leber promised to invest clients’ money in bonds and tax lien certificates paying returns between 4 and 6 percent, reinvest clients IRA accounts into “qualified ‘rollover’ investment accounts” paying higher rates of return that would not result in fees or tax liabilities. He also promised to invest client money in stocks, bonds, annuities and a Styrofoam recycling business, the indictment stated.

Also according to the indictment, “Leber never intended to make the investments that were represented to the clients and instead intended to and did expend these monies for his personal benefit and gain and for the benefit and gain of a personal business venture – Cedar Ridge Shooting Ride Academy, LLC – that Leber formed, owned and operated.”

 

For the full story, read Thursday's print or e-Edition of the Glasgow Daily Times.

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