Guy W. Gane, Jr. served nine years in federal prison after being accused of defrauding investors of over $5 million. Nine years for a crime that he may never have actually been guilty of.
Maintaining his innocence, Gane spoke with us, now some 16 years after three of his employees committed the crimes and blamed it on him.
In December 2010, Gane pleaded guilty to money laundering and mail fraud charges.
As the president of his stock brokerage firm, Gane says he was unaware that three of his brokers were engaged in a vicious and deceptive scheme in order to enrich themselves. They even fooled him.
The three brokers, facing serious prison time, accused Gane of directing them to deceive investors.
U.S. prosecutors alleged that Gane led the scheme that persuaded customers to invest in Maine waterfront property, as well as for the construction of dormitories for one of the universities located there. Some investors lost their life savings. The indictment claimed Gane directed his brokers to mislead and misinform investors, and instead used their money for various expenses as well as living ‘a lavish lifestyle’.
Despite passing multiple polygraph tests and receiving support from several victims, Gane faced local news articles that not only reported the government’s version of events but enflamed the public by doing so.
To avoid trial, Gane accepted reduced charges and a potentially lighter sentence than a jury conviction. Facing 51 counts against him and a justice system focused on results, not fairness, Gane felt the odds were against him.
As part of a settlement with the Securities and Exchange Commission, Gane was asked to sign a confession that also included a gag order promising to never again discuss the case publicly – a signature that might have possibly reduced his time in prison. Gane refused.
The U.S. government is a formidable adversary which, as history has proven, is not above dolling out retribution for those citizens who dare to speak out – despite a citizen’s Constitutional right of free speech to do so. Gane, although now off probation, has understandably been reluctant to share his story due to that fear.
Today, Gane through his company Gane Wisdom is a much sought-after Speaker, Author, Life Coach, and entrepreneur. While in prison he wrote “Unchained and Unbroken: Life Lessons and Strength Training from a Jailhouse Gymrat” and “Chrysalis: Awakening to God’s Path, Protection and Power in Your Life” both available on Amazon.
Gane also created the mentorship program known as Prisoncology. Partnering with the Christian community nationally, Prisoncology not only provides pre-entry guidance and preparation to those about to enter the prison system, but to their families as well. The organization is also at the forefront of prison reform in the United States.
Will the truth ever come out how a potentially innocent man was railroaded into prison? Only time will tell.
