A Detroit businessman embezzles over $10 million dollars, then disappears.
Philip and Kathleen Breen were married in Detroit, Michigan in the spring of 1988. They were both successful business executives, and together, they enjoyed the good life. They had expensive, grownup toys paid for by Philip’s investments in the stock market. For Kathleen, the marriage was a dream come true:
Philip was the president of a highly successful Detroit mortgage company. His position gave him the authority to purchase mortgages for the company.
A year after his marriage to Kathleen, Breen purchased the Orlando Juice baseball team for $700,000. The team was one of eight franchises in the Senior Professional Baseball Association, a new league built around retired ball players. It was a risky enterprise, but by the end of the year Breen’s investment had ballooned to more than $2 million dollars.
Kathleen thought the franchise put extra pressure on her husband:
Kathleen became concerned about her husband’s mental state. There was a recognizable change in his behavior. He started spending more money and began drinking heavily.
Back in Detroit, the mortgage company where Philip was employed made an unsettling discovery. They’d been servicing loans that Breen had purchased from companies that did not exist. The company suspected Philip Breen of embezzlement.
Philip and Kathleen returned from a Florida vacation to their home in Detroit on Friday, January 5 th , 1990. Kathleen immediately noticed that something wasn’t right:
By Monday morning, Philip convinced Kathleen that he could straighten everything out. He left for work at around eight o’clock. But he never arrived at his office.
That night, Kathleen discovered that Philip had taken some of his clothes and luggage:
The FBI was brought in to investigate. They found that in less than two years, Breen had created close to 100 fake loans, netting himself more than $10 million dollars.
He had used the money to support his extravagant lifestyle. The FBI also discovered that Breen had been convicted of fraud and embezzlement in Florida twelve years earlier. Kathleen Breen was shocked to learn of her husband’s double life:
On the advice of her attorney, Kathleen Breen filed for divorce. But it was too late. The courts held her legally responsible for Philip’s debts. She was forced to sell nearly everything she and Philip owned, including their cars, boats, Florida condo, and Detroit home.
For Kathleen Breen, the dream was not just over, it had been shattered:
Phillip Breen has never been located.
Watch this case now on Amazon Prime in season four with Robert Stack and in season three with Dennis Farina. Also available on YouTube with Dennis Farina. Various seasons available now on Hulu.SUBMIT A TIP
He’s been found! Selling churros In Fresno,Ca under the alias ……..el churro bezzlero
I hope that some1 finds him
At this point, going on over 30 years, it’s doubtful they’ll ever find him or whatever happened to him.
His D.O.B. WAS 1946.
There’s a Phillip Breen on Facebook that has similar facial features.
Damn you aren’t very bright. Yes he’s gonna use the name Philip Breen while also showing his real face. You missed out on IQ
According to the Unsolved mysteries Wiki…Results: Wanted. Breen was allegedly sighted in Florida and the Bahamas during the early 1990s. However, Kathleen and his family believe that he is now deceased, either due to his alcoholism or association with dangerous criminals. According to his daughter, in 1997, he was declared legally dead.
I’ve been reading some of these comments, and I wish they weren’t anonymous. I am Philip Breen’s daughter from his first marriage. I would love any info anyone may have. You can respond to my comment or email me email@example.com.
Ur father is a coward criminal that left his beautiful wife to pay his debts and crimes. He didn’t deserve her. He lied.
Hopefully he will be found
That’s SUPER helpful to say to a criminals totally innocent daughter who is publicly reaching out for help. You really made the world a better place with your comment. Congrats!
Betcha hes a grandfather playing shuffle board somewhere.
Look in bowling green Ky. Under mike
They found a body here off the coast of maine back in 1990 and checked with Canada and missing persons here in maine they still haven’t been able to identify him but his description sounds like Philip Breen might want to check it out
Phil was born in 1946, we grew up together on Detroit’s northeast side since I went in the Navy I lost contact with the family and who knows if he is alive but after all these years he had to have fled somewhere
Seriously, try Phillip Green
He Ran Off With The Investors Money? Oh Hell No! That Punk Ran Off With The Money ! I Want Unsolved Mysteries To Know That Philip Needs To Get Life Without Parole And He Needs To Pay All Of That Money Back! Authorities Please Get This Slime Ball Off The Streets Before He Does It Again!
If he was born in 1962 he would be closer to 55 not 70
I am not sure where you guys are getting a year of birth of 1962 but if you look at the pictures of Phillip, you can tell by appearance that he isn’t 26 year old kid with the grey tint to his hair and it would be pretty impossible for him to have criminal record.
He was born in 1946zxz
what happend to kathleen?
She’s alright. I had some classes with her at Wayne State in Detroit Michigan.
I’m wondering if he is in Sydney, Australia . Found a Philip Breen there, photo on LinkedIn.
no age progression has been done- he would be 70 thos december 16 2016. He has not turned himself on nor been found. It is not known if he is dead or alivr. he is wanted for embezzlement – not known of wjat if any additional crimes he may have committed. at this point only God knows
The article is unclear ..Is he suspected of murder also? Or did he just flee the country to hopefully escape consquiences of his actions? I can only assume murder was involved some where along the way. You get several people realizing they been scammed one can only assume somebody died somewhere.
What a dumb question.
You’ll make some old man happy someday. Hopefully, anyway, since that is your only chance of survival with an i.q. capable of pondering such stupidity. People embezzle money all the time without any murders. Lay off the television. And the crack pipe…
A 1962 year of birth would make him 54.
has Phillip Breen been found?
Do you have any photos of what he would look like today or what his age would be in 2016?
Hi Ray – there does not appear to be an age regression available, but Philip would be around 70 years old in 2016.
Do you have any other information? Where is he from?