Area Investment Advisor Pleads Guilty To Fraud Charges
St. Louis, MO – BRYAN BINKHOLDER pled guilty to multiple fraud charges involving his financial planning and investment strategy businesses.
According to court documents, Binkholder labeled himself "The Financial Coach" and provided investment and financial planning advice to the general public through his affiliated websites, YouTube channel, published books and articles and an investment related talk-radio show that aired on local radio stations. In 2008, he developed a real estate investment he termed "hard money lending." Using his platform as an investment advisor and financial talk show host, Binkholder solicited his clients and others to invest in the hard money lending program. As part of his sales pitch, he represented that he had relationships with developers in the real estate community who wanted to purchase, renovate and sell residential real estate in the St. Louis area, but were not able to secure financing from traditional banks. As part of the hard money lending program, Binkholder told investors that they would invest money with him, and he would act as a bank and provide short-term loans to these developers at a high rate of interest, which would be shared with the investor. Instead of exclusively making hard money loans as promised, he used millions of dollars of investor money, made only a small number of hard money loans and caused investors to lose more than $3,000,000.
Binkholder, Wentzville, MO, pled guilty to four felony counts of wire fraud and one felony count of bank fraud before United States District Judge Ronald L. White. Sentencing has been set for April 10, 2015.
Each of these charges carries a maximum penalty of 20 years in prison and/or fines up to $250,000. In determining the actual sentences, a Judge is required to consider the U.S. Sentencing Guidelines, which provide recommended sentencing ranges.This case was investigated by the Federal Bureau of Investigation and the Postal Inspection Service. Assistant United States Attorney Stephen Casey is handling the case for the U.S. Attorney’s Office.