OKLAHOMA CITY – A husband and wife who were indicted by the state’s multicounty grand jury almost three years ago for defrauding Oklahomans of almost $500,000 admitted their guilt and were sentenced last week.
Oklahoma County District Judge K. Nikki Kirkpatrick sentenced Brian Kelly Berry, 53, to 18 years, with five years to be served in prison and 13 years on probation. Amanda Berry, 55, received an 18-year suspended sentence.
The couple, who listed Summerland Key, Florida, as their home, also were ordered by the judge to pay restitution. That sum includes $451,000 to Massachusetts Mutual Life Insurance Co., which compensated some of the Berrys’ victims; approximately $22,000 to another victim who sustained economic losses; and $10,000 to a victim whom MassMutual had not reimbursed.
Records show the Berrys created a shell company called ICON Financial Group LLC, and convinced clients, many of whom were friends, to invest in their fraudulent company over a three-year period. The couple used these funds for personal use while returning only partial payments to some victims.
Several victims had legitimate MassMutual investment accounts and were manipulated into transferring their funds to the Berrys' shell company. MassMutual terminated the couple on Oct. 1, 2020, and subsequently reimbursed several of the victims.
The case was prosecuted by the Oklahoma Department of Securities (ODS) and the Attorney General’s Office after an investigation by ODS.
“The Berrys took advantage of long-term relationships and the trust placed in them – circumstances that often occur in connection with securities violations,” ODS Administrator Melanie Hall said. “No matter how well you think you know a person soliciting you for an investment, always do your homework before turning over your hard-earned money.”
“Financial fraud of this magnitude causes devastating harm to hard-working Oklahomans who trusted these individuals with their life savings,” state Attorney General Gentner Drummond said.