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Man Accused of Fraud Sentenced

Deirdre M. Daly, Acting United States Attorney for the District of Connecticut, announced that Paul E. Brennan, 45, formerly of Old Saybrook, Conn., and Phoenix, Ariz., was sentenced today by Senior United States District Judge Alfred V. Covello in Hartford to 71 months of imprisonment, followed by five years of supervised release, for operating multiple fraud schemes.

According to court documents and statements made in court, from approximately March 2009 to August 2011, Brennan convinced women with whom he was romantically involved, and other acquaintances, to cash checks for him at financial institutions knowing that the checks were drawn on closed or underfunded accounts and would be returned for nonpayment. Brennan also cashed, or had others cash for him, fraudulent checks at check cashing businesses in Connecticut.

Also, from approximately November 2010 to June 2011, Brennan defrauded individuals by pitching phony investment deals and soliciting money from victims for fraudulent business ventures. During the scheme, Brennan convinced one victim to give him more than $100,000 for property deals and stock market investments, and he convinced other victims to give him money for investments in fraudulently-operated businesses, including BC Property Management and B&D Powerwashing. Brennan also persuaded certain victims to grant him authorization to use their credit cards and lines of credit.

In total, Brennan’s fraud schemes victimized more than 10 individuals and caused more than $370,000 in losses to those victims. Brennan used much of the money he received from his victims to pay personal expenses.

Brennan has been detained since his arrest on February 27, 2013. On June 18, he waived his right to indictment and pleaded guilty to one count of bank fraud and one count of mail fraud.

Brennan’s criminal history dates to 1986, and includes more than 35 convictions for various state offenses, including kidnapping, unlawful restraint, assault, weapons possession, impersonating a police officer, car theft, possession of a stolen vehicle, check fraud and larceny.

This matter was investigated by the Federal Bureau of Investigation, the Old Saybrook Police Department and the State’s Attorney for the Judicial District of New London. The case was prosecuted by Special Assistant United States Attorney Kerry L. Quinn.