Ruling delayed in fraud case for ex Neb. brokers

AP News
Posted: Dec 09, 2009 10:55 AM

A Sarpy County judge has delayed his ruling on the securities-fraud charges against two former Nebraska City brokers because of a paperwork problem.

Sarpy County District Judge David Arterburn says prosecutors neglected to file detailed charges against Rebecca Engle and Brian Schuster in District Court, so he couldn't determine whether the charges are warranted.

Prosecutors complied with the judge's request, but a ruling in the case will now be delayed at least until Wednesday.

Engle and Schuster are accused of defrauding more than 130 investors out of more than $20 million.

Both former brokers have argued that prosecutors don't have enough evidence to prove they improperly sold risky investments in several interrelated Florida companies.