SE Michigan money manager John Bravata, son face fraud trial in Detroit federal court
John Bravata accused of misleading investors as he collected millions of dollars from them at BBC Equities
Jurors will hear about the top-shelf lifestyle of a Detroit-area investment manager as a fraud trial opens in Detroit federal court.
John Bravata is accused of misleading investors as he collected millions of dollars from them at BBC Equities. He denies any fraud and says he was taking legitimate stakes in real estate that simply turned sour during the recession. Jury selection starts Monday.
Defense lawyers have tried to keep out evidence of Bravata's personal spending, but a judge rejected it. Prosecutors say it's critical to their case. Bravata, who lived in the Brighton area, had hot cars, homes, jewelry and more luxuries. He's an ex-Kalamazoo police officer.
Bravata's son, Antonio, is also on trial. An insider, Richard Trabulsy, has pleaded guilty and will be an important government witness.
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