Bradford Bleidt

The U.S. Securities and Exchange Commission filed a lawsuit on behalf of investors defrauded by WBIX-AM 1060 radio station operator and investment company owner Bradford Bleidt. The suit claimed Bleidt defrauded clients out of more than $30 million while running an investment firm and used $10 million in proceeds to buy the radio station in 2004. A court-appointed receiver announced a $6.3 million settlement. Bleidt is currently serving an 11-year prison sentence. (Jun-05-06) [BOSTON BUSINESS JOURNAL]

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