Former Nebraska Brokers Challenge Fraud Charges

September 1, 2009

Both the former Nebraska City brokers charged with securities fraud are challenging the cases accusing them of defrauding more than 130 investors out of more than $20 million.

Rebecca Engle and Brian Schuster say prosecutors haven’t shown they have enough evidence to justify trying Engle and Schuster for improperly selling risky investments in several interrelated Florida companies.

Engle and Schuster have pleaded not guilty to eight felony counts of securities fraud. Several lawsuits and arbitration claims have been filed against them and their former employers accusing Engle and Schuster of improperly selling risky investments.

Schuster, who is a former Nebraska football player, worked with Engle in Nebraska City for several years. Engle lost her securities dealing license in February 2008 as part of an agreement with state regulators.

On the Net: Nebraska Judicial Branch:

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