Barren County, Kentucky Financial Advisor Charged With Embezzling Approximately $2.4 Million From Clients
Jonathan Neal Leber, 36, of Glasgow is charged in a one count indictment with devising a scheme to defraud and to obtain money and property by means of false and fraudulent pretenses, representations, and promises from individuals who were clients of the defendant’s financial advisement business, Intrepid Financial Strategies, Inc.
According to the indictment, between August 1, 2007 and January 14, 2011 Leber would allegedly promise to invest clients’ money in bonds and tax lien certificates paying returns between 4% and 6%; reinvest clients IRA accounts in to qualified “rollover” investment accounts paying higher rates of return and would not result in fees or cause tax liabilities; and invest client money in stocks, bonds, annuities, and a Styrofoam recycling business. The indictment states that Leber never intended to make the investments that were represented to the clients and instead intended to and did expend these monies for his personal benefit and gain and for the benefit and gain of a personal business venture – Cedar Ridge Shooting Ride Academy, LLC – that Leber formed, owned and operated.
Leber was previously indicted in Bullitt Circuit Court on three felony counts of forgery and received a probated sentence after entering a guilty plea on all counts. He is currently awaiting sentencing in Jefferson Circuit Court after pleading guilty to fraud charges.
If convicted of the federal charge, Leber faces no more than 20 years in prison, a fine of $500,000 and a three year term of supervised release.
This case is being prosecuted by Assistant United States Attorney Jim Lesousky and was investigated by the Federal Bureau of Investigation.
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The indictment of a person by a Grand Jury is an accusation
only and that person is presumed innocent until and unless