Sunday, July 20, 2003

What's the Buzz?

Man can't pay back investors

Gary Bentz of Loveland has been ordered to help repay $17.4 million for his part in an offshore trading scheme, but his attorney says he doesn't have the money and can't pay.

"They might want him to demonstrate that he can't pay," said Kevin McShane, the Indianapolis lawyer representing Bentz. "That would be very easy to do."

McShane said Bentz has been "evicted" from his Loveland home and is working in telecommunications sales.

McShane formerly represented John Brinker, the Mason man also included in the "disgorgement" order signed last month and announced last week. But he said he no longer represents Brinker.

In the order, U.S. District Judge David Hamilton also ordered Brinker and Bentz to pay an additional $110,000 each in civil penalties.

Brinker and Bentz operated Wellington Bank and Trust in Grenada and raised more than $20 million for the venture, the SEC charged when it sued Brinker and Bentz in 2001. A court-appointed receiver has been unable to find significant assets from Wellington to repay investors.

Cliff Peale

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