Former horse owner Robert Brennan was sentenced Thursday to nine years and two months in federal prison for bankruptcy fraud and money laundering.
According to the public affairs office of the U.S. Attorney for the District of New Jersey, Brennan was sentenced by Judge Garrett E. Brown of the United States District Court in Trenton.
Brennan, 57, was convicted in April on seven counts of bankruptcy fraud and money laundering in connection with his company, First Jersey Securities, and has been in jail ever since.
Brennan's horses raced under the name Due Process Stable, a farm he owned in Colt's Neck, N.J. The financier rebuilt Garden State Park for $170 million in 1985 after a fire destroyed the grandstand of the New Jersey track in 1977. A development company purchased the Cherry Hill facility in 2000 and closed it earlier this year to build a residential/business complex.