CALIFORNIA | LOCAL
September 29, 1998
A Pacific Palisades investment banker was sentenced Monday to 51 months in federal prison for bilking clients out of $1.3 million. Benjamin Bush, former owner of Ben Bush Investment Management Inc., also was ordered to make nearly $1.2 million in restitution to eight victims who suffered most of the losses. Bush, 53, pleaded guilty in May to one money laundering count and admitted that he laundered the funds he bilked from his clients.
April 8, 1998
An investment manager pleaded guilty Tuesday to taking $1.3 million of his clients' funds for his personal and business use, prosecutors said. Benjamin Franklin Bush III, owner of Ben Bush Investment Management, pleaded guilty to one count of money laundering. He faces up to 20 years in federal prison and a fine of $250,000 when he is sentenced June 29.