New judge appointed to handle cases of 2 former Neb. brokers accused of securities fraud

Judge appointed in fraud cases of ex Neb. brokers

NEBRASKA CITY, Neb. — Gage County District Judge Paul Korslund has been appointed to the cases of two former Nebraska City brokers accused of securities fraud.

Korslund, who serves the state’s 1st Judicial District, received his appointment Tuesday. Sarpy County District Judge David Arterburn recused himself from the cases last week because of concerns about possible conflicts.

Rebecca Engle and Brian Schuster are accused of defrauding more than 130 investors in southeast Nebraska out of more than $20 million. Prosecutors say the brokers sold improperly risky investments.

Engle and Schuster have argued they shouldn’t be prosecuted for securities fraud because the investors acknowledged the risks in writing.