WKU Public Radio News Staff
Tue December 18, 2012
Financial Advisor from Barren County Sentenced to Six Years
A financial advisor from south central Kentucky has been sentenced to six years in prison for embezzling more than two million dollars from his clients. 36 year old Jonathon Neal Leber of Glasgow had pled guilty in September to charges of defrauding clients in Kentucky and southern Indiana of approximately 2.4 million dollars.
Prosecutors say Leber had developed a scheme to defraud investors through his business, Intrepid Financial Strategies, Incorporated. The indictment stated that the defendant never intended to invest money in the ways he had promised clients, but instead used it for personal gain and profit.
U-S Attorney David J. Hale says many of the victims of this criminal activity lost nearly all of their life savings. As part of the plea, Leber will serve six years in prison and must pay restitution to fourteen victims. The case was investigated by the FBI and the Kentucky State Police.