February 18, 2015- Lincoln, Nebraska
The JournalStar.com reports that Scott and Robin Usher of Lincoln have admitted duping investors out of about $750,000 in a scheme involving phony inventions and have pleaded guilty. They were indicted in 2013 on wire fraud and conspiracy charges.
Scott Usher claimed to have invented a solar-power wind turbine which would power a single family home and a ‘vortex desalinator’ which could easily remove salt from seawater. The couple falsely claimed to have held meetings with Chinese officials as well as officials from the United Arab Emirates promoting the inventions.
According to the article, Usher had no inventions and used the investor’s money to pay back earlier investors and for personal expenses. They face up to 20 years in federal prison in sentencing which will take place in May 2015.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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