It is Nebraska's version of the Bernie Madoff investment scandal. Now, two former Nebraska City brokers face eight counts each of securities fraud.

Rebecca Engle and Brian Schuster were registered broker-dealer agents with Capital Growth Financial. They are accused of selling high-risk securities to roughly 150 Nebraskans without disclosing key risks or warnings. The total loss is estimated at more than $20 million.

The securities were from two Florida-based companies, American Capital Corp. and Royal Palm Capital Group, Inc.; neither is still in business.

Christy Stutheit is the daughter of one of those investors. In 2008, she told Channel Six News her parents lost almost $200,000.

"It's embarrassing and painful and financially it's destroyed allot of people," said Stutheit. "This really bothered him (her father). He couldn't sleep because of it. He trusted this woman. The people that were in this room all trusted her."

Stutheit tells Channel Six News today, "If only she and Madoff can share a cell. Even though the dollar amounts are different they are on the same illegal playing field."

An attorney for the investors says many of the victims sold their farms or small businesses to invest a considerable portion of that money to provide for retirement.

Warrants have been issued for Engle and Schuster's arrest. If convicted, each count carries a penalty of up to five years in jail and/or a $10,000 fine.