Four Ohio Men Indicted in $7M Investment Scheme
According to the U.S. Attorney’s Office for the Northern District of Ohio, four Ohio men were indicted for their role in an alleged $7 million investment scheme. Prosecutors say the men traveled the U.S. selling unregistered securities and using various false and misleading statements to do so.
The indictment names the following men, all allegedly affiliated with Medical Safety Solutions:
- Kenneth Jackson
- William Schureck
- Dennis Deciancio
- Daryl Dane Donohue
The indictment says that Jackson founded Medical Safety Solutions in 2007. Allegedly, Jackson, Schureck, Deciancio, and Donohue sold shares of Medical Safety Solutions to investors throughout the country even though the shares were not properly registered as required by law..
The indictment claims that the four men used various false and misleading statements to procure investments in MSS and the product “Sharps Terminator.” For example, the men allegedly claimed that the Sharps Terminator device had been approved by the Food and Drug Administration when, in reality, it had not.
The indictment states that investors in MSS and the Sharps Terminator sustained losses of approximately $7 million over a five-year span. One of the men involved in the scheme allegedly gambled away more than $3 million in his investors’ money. An indictment is only a charge and is not evidence of guilt.
Contact Meyer Wilson if you or someone you know has lost money through investment fraud or misconduct. We represent investors to help them recover losses from investment-related misconduct.Contact us today for a free case review to learn how we might be able to help you!