Omaha Investment Advisor Sentenced to 48 Months in Prison for Wire Fraud
United States Attorney Deborah R. Gilg announced that Ryan M. Jindra, age 37 of Omaha, was sentenced in United States District Court at Omaha, Nebraska, following his plea of guilty to wire fraud charges. The Honorable Lyle E. Strom, Senior United States District Judge, sentenced Jindra to 48 months in prison to be followed by a three year term of supervised release. In addition, Jindra was ordered to pay restitution in the amount $484,235.52.
Ryan M. Jindra worked as an Omaha investment broker. He was an owner/officer of several companies all operating under the umbrella of Envision Financial Group, Inc.. He solicited monies from investors by representing that he had investment products which were safe and likely to yield above average income. He charged management fees for his services. The fees he was entitled to collect were set forth in the contracts his clients signed with him.
Commencing in 2008, Jindra began experiencing financial difficulties both personally and professionally. In order to maintain cash flow at his business as well as pay his own personal expenses, Jindra began causing improper withdrawals from client accounts in amounts that were not authorized by the contracts he had entered into with his clients. In some instances, later withdrawals were used to replace monies taken through earlier improper withdrawals. Jindra also began diverting funds that had been entrusted to his company by clients who wished to participate in a fixed note program wherein the clients had been promised specific, high rates of return. He also caused the diversion of monies tendered by account representatives who solicited clients on behalf of his company. The representatives were required to tender funds to pay for errors and omissions insurance which would be purchased by Jindra. The premium payments were diverted to other purposes and the insurance was not purchased. In total, 445 people lost $484,235.52 due to Jindra’s conduct.
"Fraud schemes such as this exploit the trust and hopes of investors, crushing their dreams and aspirations,” said U.S. Postal Inspection Service Inspector in Charge Adam Behnen. “In these difficult economic times the devastation caused to the victims cannot be overstated. We are committed to aggressively investigate and bring to justice those who use the financial markets to deceive and defraud the public."