On Air Night Flight | Midnight - 5:00am

Payouts for conman's victims

Authorities in America say they will soon be able to pay back many of those defrauded by a US conman who hid some of his ill-gotten gains in the Isle of Man.

New Jersey's State Attorney General Paula Dow says $1.5 million will be split between 72 investors who were taken in by Robert Brennan and his company.

It has taken more than ten years for authorities to track down £45 million in assets Brennan hid in jurisdictions such as Gibraltar and the Isle of Man.

Brennan served a nine-year jail sentence for selling worthless shares to unsuspecting investors, and victims have until have until May 31 to submit their claims for restitution with the court-appointed receiver.

More from Isle of Man Business