What You Need to Know The ex-Mutual of Omaha broker was sentenced to 63 months for defrauding mostly older clients out of $2.6 million. The former rep was also ordered to pay his 27 victims restitution of $2.4 million. Separately, a partial judgment was entered against an ex-LPL broker who the SEC alleged stole hundreds of thousands of dollars from an older client. The former Mutual of Omaha Investor Services broker who the Securities and Exchange Commission last year charged with defrauding older clients out of $2.4 million has now been sentenced in a parallel criminal case to more than five years in prison. On May 20 in U.S. District Court for the Eastern District of Wisconsin, Edward Matthes was sentenced to 63 months in federal prison for carrying out a $2.6 million investment scheme that defrauded 27 victims, most of whom were seniors, according to court documents and Richard G. Frohling, acting U.S. Attorney of the Eastern District of Wisconsin.