Final defendant sentenced in Petro America securities fraud

2 years 6 months 3 weeks ago Friday, May 22 2015 May 22, 2015 Friday, May 22, 2015 4:40:28 AM CDT May 22, 2015 in News
By: The Associated Press

KANSAS CITY (AP) - A 46-year-old Arizona man has been sentenced to nearly four years in federal prison for his role in a $10.2 million securities fraud conspiracy that victimized more than 12,000 investors across the U.S. and Canada.

Brian Langenbach of Globe, Arizona, was sentenced Thursday to three years and 10 months without parole and ordered to pay roughly $696,000 in restitution.

Langenbach was one of nine co-defendants who pleaded guilty to illegally selling shares in Kansas City-based Petro America Corp., which claimed to have $284 billion in assets. Five other defendants were convicted at trial.

Prosecutors say defendants illegally sold unregistered stock to people who weren't eligible to invest in risky startups, many of them poor and elderly churchgoers who were told by their pastors the opportunity was a blessing from God.

 

More News

Grid
List
COLUMBIA - The Columbia Chamber of Commerce is advocating for a full functioning Hyperloop to come to Missouri. After... More >>
2 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 3:32:00 AM CST December 15, 2017 in News
ST. LOUIS (AP) — Kevin Roy scored twice and John Gibson made 29 saves as the Anaheim Ducks defeated the... More >>
7 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 10:20:39 PM CST December 14, 2017 in Sports
COLUMBIA - Iron Tiger Tattoo parlor in downtown Columbia mops its floors nearly three times a day. It didn’t use... More >>
8 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 9:56:00 PM CST December 14, 2017 in Target 8
CAMDENTON - The Missouri Department of Natural Resources recommended an old manufacturer in Camdenton as a Superfund site. Money... More >>
9 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 8:30:00 PM CST December 14, 2017 in News
VERSAILLES - Prosecutors filed charges against three employees of the Morgan County Jail on Monday, including a nurse accused of... More >>
10 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 7:50:00 PM CST December 14, 2017 in News
FULTON - People who are preparing to travel for the holidays are automatically at risk for robberies, road issues, and... More >>
10 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 7:25:00 PM CST December 14, 2017 in News
JEFFERSON CITY (AP) — The search for Missouri's next top education official has started. The State Board of Education... More >>
11 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:13:24 PM CST December 14, 2017 in News
MOBERLY - Fire and law enforcement officers from three counties received radiological training Thursday at the Moberly Fire Department. ... More >>
11 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:09:00 PM CST December 14, 2017 in News
COLUMBIA - Here is the latest on a threat to Moberly Area Community College's Columbia campus: 6:55 p.m. ... More >>
13 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 5:00:00 PM CST December 14, 2017 in News
UPDATE: Suspect Monquail Williams has been taken into custody in Boone County without incident. According to Corporal Andy Boggs... More >>
13 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 4:47:00 PM CST December 14, 2017 in News
COLUMBIA - The City of Columbia has new aid in fighting snowy roads this with the help of its new... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 4:04:00 PM CST December 14, 2017 in News
AUDRAIN COUNTY – One Missouri farmer is righting his wrong following a pig waste leakage into a nearby creek. ... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 3:45:00 PM CST December 14, 2017 in News
JEFFERSON CITY - Authorities are investigating a Wednesday night shooting which injured a 19-year-old Jefferson City resident, police said in... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 3:37:00 PM CST December 14, 2017 in News
COLUMBIA - Callaway County schools donated more than 9,200 toys to Toys for Tots Thursday. "We're excited," coordinator Melissa... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 3:20:00 PM CST December 14, 2017 in News
BELLEFONTAINE NEIGHBORS (AP) - The Latest on the shooting of two St. Louis-area police officers saved by their bulletproof vests... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 3:17:00 PM CST December 14, 2017 in News
COLUMBIA - Thursday marked the five year anniversary of the Sandy Hook shooting. In 2012, Adam Lanza opened fire... More >>
15 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:50:00 PM CST December 14, 2017 in News
COLUMBIA - Police now have 75 kits with the opioid overdose reversal medication naloxone, which is also known as Narcan.... More >>
15 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:39:00 PM CST December 14, 2017 in News
JEFFERSON CITY (AP) — The former administrator of the Pettis County Ambulance District has admitted embezzling more than $227,000... More >>
15 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:15:00 PM CST December 14, 2017 in News
Columbia, MO
Broken Clouds 32°
6am 29°
7am 30°
8am 30°
9am 33°

Select a station to view its upcoming schedule:

Coming Up Next

6:00a
KOMU 8 News Today
7:00a
Today
9:00a
Megyn Kelly TODAY
6:00a
Page Six TV
6:30a
Cops
7:00a
Maury

Tonight's Schedule

7:00p
Blindspot
8:00p
Dateline NBC
7:00p
The 86th Annual Hollywood Christmas Parade
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld