Former Brooke Executives Face Fraud Charges From Securities And Exchange Commission

Bizjournals.com:

Six former senior executives from now-defunct Brooke Corp. and two subsidiaries were charged Wednesday by the Securities and Exchange Commission with hiding key information from investors and running a massive financial fraud.

Former Chairman and founder Robert Orr is among the defendants.

In a complaint filed in U.S. District Court of Kansas, the SEC alleged that the defendants misrepresented the health of the companies and the “increasingly dire liquidity and financial condition of the Brooke companies” in SEC filings and other public statements for year-end 2007 and the first and second quarters of 2008. Read more.

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