Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Ohio Investment Fraud Law Firm Continues Investigation into Potential Recovery for Victims of Brenda Ashcraft's Alleged Investment Fraud

Meyer Wilson is continuing its comprehensive investigation into potential recovery for victims of Brenda Ashcraft's alleged investment fraud. A federal grand jury recently charged Ashcraft with defrauding Ohio investors of $15 million from 2009 to 2013 by way of an REIT scheme. After being contacted by one of the victims and reviewing the documents relating to the investments, Ohio investment fraud attorney David Meyer immediately began investigating claims against various financial institutions that may be liable for the investment losses.

Ashcraft's indictment alleges that while she was the owner and operator of French Manor Properties, she caused investors to believe that their investments were secured by real estate and they would receive 40 percent annual returns on investments. Some investors claim that, while they did receive some money, Ashcraft's checks began to bounce. Ashcraft pleaded not guilty to her charges.

"Where is the money?" was the cry when Ashcraft left the federal courthouse in Cincinnati last Friday. The indictment alleges that Ashcraft siphoned off investor money for her own personal use. Some investors defrauded by Ashcraft have begun to file civil lawsuits to try to recover their losses.

Ashcraft has been charged with the following crimes:

  • Wire fraud (punishable by up to 20 years in prison),
  • Securities fraud (punishable by up to 20 years in prison), and
  • Engaging in a monetary transaction in criminally derived property and aiding and abetting (punishable by up to 10 years in prison).

Ashcraft also faces a maximum $5 million fine for the securities fraud charge and a maximum fine of $250,000 (or 2x the loss) for the other two charges.

The Ohio-based investment fraud Meyer Wilson is currently investigating this case for the potential financial recovery for defrauded investors. If you suffered significant financial losses as a result of Brenda Ashcraft's real estate investment scheme, contact David Meyer, the firm's Managing Partner, today.

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