July 27, 2001
Former penny stock promoter Robert E. Brennan was sentenced to nine years and two months in prison Thursday for bankruptcy fraud and obstructing justice. Brennan, 57, became widely known in the 1980s through television commercials for his former flagship brokerage, First Jersey Securities Inc., in which he stepped off a helicopter and urged viewers to "come grow with us." . . . McDonald's Co.
April 17, 2001 |
Former penny-stock tycoon Robert E. Brennan was convicted of bankruptcy fraud after a monthlong trial in Trenton, N.J., and could face six to 10 years in federal prison. Brennan, 57, was convicted on seven of 13 counts. A hearing is set for today to determine whether he will remain free on bail pending sentencing.
August 7, 1986 |
Robert Brennan, a controversial entrepreneur who built First Jersey Securities Inc. into a nationwide stock brokerage firm, is resigning as chairman to pursue other interests that could include politics, he said in an interview published Wednesday by the Newark (N.J.) Star-Ledger. Brennan, seen in television commercials flying in his helicopter to promote First Jersey Securities, will also step down as chief executive of the firm that he founded 12 years ago.
August 2, 2000 |
Disgraced financier Robert E. Brennan, who, before regulators labeled him a cheat, appeared in TV commercials urging investors to buy penny stocks, was arrested and charged with bankruptcy fraud. Two indictments were unsealed with Brennan's arrest, both related to his cashing of $500,000 in casino chips five years ago. These are the first criminal charges Brennan has faced. He was arrested at his Colts Neck, N.J., home.
November 1, 1985 |
The Securities and Exchange Commission on Thursday filed a new lawsuit against Robert E. Brennan and First Jersey Securities Inc., charging that the flamboyant stockbroker and his firm defrauded customers by improperly influencing their purchases and sales of low-priced stocks. The suit, filed in U.S. District Court here, alleges that Brennan and his New York-based firm earned gross profits of at least $9.
January 15, 2003 |
Day-trading firm Heartland Securities Corp. and six brokers agreed Tuesday to pay $70.2 million to settle regulatory charges that they made tens of millions of dollars in illegal profits by exploiting a Nasdaq Stock Market trading system for individual investors. Sheldon Maschler, Erik Maschler, Jeffrey Citron and Michael McCarty made thousands of illegal proprietary trades on Nasdaq's Small Order Execution System from 1993 to 2001, the Securities and Exchange Commission said.