Ponzi Scheme Sends Bethany Man to
Federal Prison for over 21 Years
Ordered to Pay Over $4.5 Million in Restitution
Oklahoma City, Oklahoma - Yesterday, BRIAN WILLIAM McKYE, 48, from Bethany, Oklahoma, was sentenced by United States District Judge David L. Russell to serve 262 months in prison for a Ponzi scheme involving securities fraud and conspiracy to commit money laundering, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma.
On November 17, 2011, McKye was found guilty of securities fraud and conspiracy to commit money laundering following a three-day jury trial. Evidence from trial showed that from 2006 through 2009, McKye, did business as Global West Funding Ltd., Co. Global West Financial LLC, Global West Financial LLC, Sure Lock Financial LLC, Sure Lock Loans LLC, and The Wave-Goldmade Ltd. McKye used these businesses to market investment contracts whereby investors were guaranteed a monthly rate of return from 6.5% to 20% for 6 to 60 months. Investors were told they had “100% total control” of their money and that the investments were secured by risk free real estate notes. However, McKye was not a registered investment advisor or broker-dealer in the State of Oklahoma and he used the money he received from investors to pay his own personal and business expenses and some limited returns to investors to keep the scheme on-going. Through this Ponzi scheme, McKye defrauded 115 victim-investors out of over $4.5 million. McKye’s companies were shut down by the Oklahoma Department of Securities in the spring of 2009
At the sentencing hearing, Judge Russell ordered McKye to serve 262 months in federal prison, followed by three years of supervised release. In addition, McKye was ordered to pay $4,516,208.97 in restitution to his victims.
This case was investigated by the Criminal Investigation Division of the Internal Revenue Service. Assistant United States Attorneys Susan Cox and Dan Lennington prosecuted the case.