Barred Mutual of Omaha Broker Edward Matthes Gets Over 5 Years in Prison For Investor Fraud
Ex-Wisconsin Financial Advisor Bilked 27 Victims of $2.6M, Many of Them Older Investors
Edward Earl Matthes, an ex-Mutual of Omaha Investor Services broker, is sentenced to 63 months behind bars for defrauding over two dozen investors, most of them older customers, in a $2.6M investment scam. He had pleaded guilty to multiple counts of wire fraud.
Matthews was also the subject of a parallel Securities and Exchange Commission (SEC) lawsuit last year that ordered him to pay those he harmed $2.4M in restitution. The regulator permanently barred him from the industry.