Detroit — Federal prosecutors want a Detroit-area investment manager and his son to pay $44.5 million in restitution for a real-estate scheme that crashed during the recession.
The Livingston County Daily Press & Argus of Howell reported details of the request Friday in John Bravata’s case. He was sentenced last month to 20 years in federal prison. Bravata’s lawyer Margaret Raben is challenging the amount of restitution.
U.S. District Judge Paul Borman plans to rule later.
At sentencing, the Brighton man said he understood the pain of investors but insisted he committed no fraud and blamed the government for the collapse of Southfield-based BBC Equities. Bravata was convicted of fraud and conspiracy in March.
His son Antonio Bravata was sentenced to five years in prison for conspiracy to commit fraud.