Brett Barber and Partner Sentenced for Fraud

Brett Barber, a Costa Mesa businessman, was sentenced to over 15 years in prison for orchestrating a fraudulent investment scheme that raised over $17 million from investors, many of whom were elderly. Barber, co-owner of BNZ Capital One and National American Capital, promised investors returns of 8% to 10% through purported real estate ventures, which were proven to be deceptive. He pled guilty to wire fraud and criminal contempt, admitting to misleading investors about the safety and insurance of their funds. His partner, Louis Zimmerle, received five years of probation and was ordered to pay restitution. Despite some real estate purchases, Barber's companies used the funds to pay off existing investors and themselves, rather than generating legitimate profits. A restitution hearing is scheduled for January 9, 2024, to address the financial losses suffered by the victims.