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Robert E. Brennan

Robert E. Brennan is an American fraudster who was involved in securities fraud in the year 1987 with his 'First Jersey Penny Stocks' brokerage firm. Brennan incorporated 'pump and dump' technique which inflated the prices of penny stocks at first and suddenly raising its price by buying it and selling it all at once.

“The liquidity of his penny stocks made his downfall in the year 1987 and made him bankrupt”. He was later indicted by the Securities and Exchange Commission for his securities fraud in the year 1994 by fining him $75 million for his fraudulent activities. He was again convicted for his fraud money in the year 1995 and was sentenced to nine years in prison in the year 2003. He was released in the year 2011.