handcuffs and money


Stockbroker Turned Country Club Owner Accused Of Embezzling Millions From Elderly Couples

Almost $3 million went missing.

October 10, 2018 - 5:20 pm

FLINT (WWJ) - Two elderly Flint couples have been swindled out of $2.7 million allegedly by their stockbroker.  

Genesee County Sheriff Robert Pickell says a 90-year-old man and his 86-year-old wife lost $1.7 million while an 89-year-old man and his 82-year-old wife lost $925,000. 

Investigators say they had invested their money with stockbroker Jason Bescoe, who's been charged with two counts of embezzlement.  

Pickell says Besco allegedly transferred their money out of a growth fund into his own Merrill Lynch account and his bank account.  

Besco used some of the money to buy the Atlas Valley Country Club in Grand Blanc according to Pickell.  The Citizen Online reported the sale of the privately owned country club in 2016. 

If convicted, Besco faces up to 20 years in prison.