Former broker Bryan W. Anderson has been sentenced to 7 years in prison for allegedly operating a Ponzi Scheme.

According to Birmingham Business Journal, Anderson pleaded guilty to wire fraud, money laundering and securities fraud. He operated his alleged scheme between 2009 and May 30, 2014.

Anderson’s BrokerCheck report indicates he worked in Alabama with MetLife Securities from 10/1998-02/2012 and Pruco Securities from 02/2012-10/2012.

In addition to his sentence, Anderson will also have to pay nearly $3.1 million in restitution to the victims. However, it is unclear if Anderson has the money to repay investors.

The White Law Group is investigating the potential liability the brokerage firm that employed Anderson may have for his actions. When a registered broker defrauds clients, the brokerage firm may be liable for negligent supervision of their broker representative and could be held responsible for investment losses in a FINRA dispute resolution claim.

If you suffered losses investing with Bryan W. Anderson and would like to discuss your litigation options, please call the securities attorney of The White Law Group at (312) 238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For more information on the firm, visit www.WhiteSecuritiesLaw.com.