Enid, OK – An Oklahoma County judge has ordered an Oklahoma couple to repay thousands of dollars in restitution after they deceived friends and clients into investing in a fraudulent shell company. The couple, Brian Kelley Berry and Amanda Berry, were found guilty of tricking their network into moving investments from Massachusetts Mutual Life Insurance (MassMutual) to their newly created firm, Icon Financial Group LLC. The couple’s actions resulted in significant financial losses for their victims.
Oklahoma Attorney General Gentner Drummond, who led the investigation into the case, called the Berrys’ actions an “egregious breach of trust.” According to Drummond, had the couple been more skilled in their deceit, they could have defrauded even more people. “Fortunately for us, they were not very good,” he remarked.
The Berrys, who had both been employed at MassMutual before their termination in 2020, started Icon Financial Group shortly after losing their jobs. Prosecutors revealed that the couple convinced friends and clients to transfer their MassMutual investments to their new venture. However, instead of growing the investments, the couple misappropriated the funds for personal use, including a lavish lifestyle that saw them relocating to the Florida Keys.
In 2022, a grand jury indicted the Berrys on charges of conspiracy and obtaining money by false pretenses. Both Brian and Amanda Berry pleaded guilty to the charges in January of this year.
As part of their sentencing, Brian Berry was sentenced to five years in prison and 13 years of probation, while Amanda Berry was given 18 years of probation. “I hope Mr. Berry enjoys living for free for five years on the state of Oklahoma,” Drummond commented following the sentencing.
In addition to their probation, the Berrys have been ordered to pay $451,000 in restitution to MassMutual for the fraudulent transactions. The couple must also pay approximately $22,000 to one victim for economic losses and $10,000 to another victim who had not been reimbursed by the insurance company.
MassMutual, despite having no legal obligation to do so, compensated some of the Berrys’ victims, as noted by Drummond. “They had no duty to do but they did,” he said, acknowledging the company’s role in helping victims recover their losses.
The Berrys’ attorney, Clay Curtis, commented on the court’s decision, stating that both sides respected the outcome. He emphasized that Brian Berry had taken responsibility for his actions, telling the court and the victims that he was “much more responsible” than his wife, Amanda. Curtis expressed pride in his client for acknowledging his role in the scheme.
This case serves as a stark reminder of the potential for financial fraud in professional relationships and highlights the importance of vigilance in safeguarding investments. The Berrys’ deceit not only cost their victims financially but also damaged the trust that is critical in personal and professional dealings.
