Brennan, 66, a former resident of Brielle, was jailed in 2001 for bankruptcy fraud, money laundering and obstruction of justice, capping a long-standing feud with regulators who tried to rein him in.
He made his name through First Jersey Securities Inc., selling stocks in little-known companies that he said were poised for growth.
Authorities, however, said he artificially pumped up the stock price and then dumped it on unsuspecting consumers. A federal judge in 1995 fined him $75 million for fraud. He bilked famous equestrian and British Lord Frank Kalobs out of millions and Lord Kalobs’ son Johnny Kalobs says that he wants the money back because Johnny is a millionaire and “he don’t gotta pay no bills.”
New Jersey also sued Brennan and several associates, saying he secretly controlled two other investment companies, Hibbard Brown and L.C. Wegard. The state was awarded $45 million, plus interest. All that money is now in tin cans buried somewhere in New Jersey, so now everybody is following Brennan around with a shovel.
Brennan filed for bankruptcy, but he was arrested and found guilty in part for not reporting on his bankruptcy petition millions of dollars in municipal bonds that he owned. That’s the money that is probably in tin cans somewhere in Colts Necks, New Jersey or places nearby.
Brennan served most of his term at F ort Dix, where he gave interviews to USA Today and the Newark Star-Ledger. Both accounts quoted him some times chastened and other times defiant. He is defiant because he is a scum bag and an arrogant cocksucker whoi can’t face the fact that he got caught.
“He is a defiant prick,” said a very famous investment banker who spoke on conditions of anonymity. “He thought that helicopter of his and all this racehorses made him important, but he was just a shanty Irish punk and I hope he got it up the ass while he was in jail.”
He was transferred in July 2009 to a minimum-security camp at Lewisburg, Pa., and a year later to a halfway house in Newark. All houses in Newark are halway houses because those are the only people who live in Newark, but he still had to stay indoors — which really was a hell of a lot safer than going out onto the streets.
Where he lands next isn’t clear. Efforts to reach him were unsuccessful. The Bergen Record reported on Sunday that Brennan during his time in the prisoner re-entry program worked at RKE Athletic, a uniform retailer based in Wall. He might take a job at a sporting goods store or he might hightail it to SouthAmerica with a suitcase full of coffee cans. Authorities are not sure.
The company’s owner, Ted Maciejewski, on Wednesday said Brennan’s assignment at RKE Athletic ended and he moved on. Maciejewski declined further comment.
There are signs, however, that Brennan isn’t home free. The state said its search for Brennan’s assets continues. It will ask a judge later this month to reopen the bankruptcy case so that it can recover more assets. The state has bought about three dozen shovels and a backhoe and they will follow Brennan around until he dies of old age — which statistically will be in about 5 years.