Category: Ohio Cases

Four Men in Ohio Convicted of Defrauding 500 Investors

A group of Ohio men was recently convicted of scamming more than 500 people out of $10 million. The U.S. Attorney’s Office for the Northern District of Ohio announced the conviction of four Ohio men in connection with a scheme to defraud more than 500 investors out of $10 million. Kenneth Jackson, William Schureck, Dennis… read more

Apostelos Saga Continues, Ohio Couple’s Ponzi Scheme Trial Delayed

The Springboro, Ohio couple accused of running a Ponzi scheme will have their trial delayed until February 6, 2017. Judge Thomas Rose of Dayton’s U.S. District Court granted an unopposed defense motion to continue William and Connie Apostelos’ trial because of the sheer volume of discovery. The husband and wife team from Ohio pleaded not… read more

Meyer Wilson Investigating Larry S. Werbel Investment Fraud Allegations

The Securities and Exchange Commission has filed a complaint against former brokers Sheif F. Khan, Larry S. Werbel, and Christopher Cervino this week in the United States District Court for the Southern District of New York. The complaint revolves around an alleged fraudulent securities scheme perpetrated by Edward Durante, a recidivist securities law violator who… read more

Douglas E. Cowgill Pleads Guilty to Fraud

An Ohio registered investment adviser, Douglas Cowgill, recently pleaded guilty to defrauding his clients. Back in May 2014, Meyer Wilson reported on the Ohio registered investment adviser who had been accused of issuing false account statements to customers. The adviser, Douglas E. Cowgill, pleaded guilty on November 12, 2015 to charges of wire fraud, theft,… read more

Apostelos Couple Pleads “Not Guilty” in $70 Million Ponzi Scheme Case

The husband and wife team from Ohio, William Apostelos and Connie Apostelos, have pleaded not guilty to allegations that they ran a Ponzi scheme that defrauded investors out of $70 million. According to federal court documents,William and Connie Apostelos pleaded not guilty to charges listed in an indictment, including money laundering and wire fraud. The… read more

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… read more

Ohio Men Indicted for Allegedly Defrauding Investors Out of $17 Million

Thomas Abdallah, Mark George, and Jeffrey Gainer have been indicted for their alleged role in a $17 million Ponzi scheme involving approximately 70 investors. According to accusations, these men allegedly solicited individuals to invest in KGTA Petroleum Ltd., an Akron-based company owned by Abdallah and a man named Kenneth Grant who is currently awaiting sentencing… read more

John Bullar To Pay $6.2 Million in Restitution for Ponzi Scheme

U.S. District Judge Michael R. Barretthanded down John Bullar’s sentence this Monday, giving him “100 months in prison, three years of supervised release, was ordered to forfeit $535,408.68, and was ordered to pay approximately $6.2 million in restitution to the victims” for his role in an $8.7 million Ponzi scheme that Bullar ran for over… read more

SEC Charges Ohio-Based IRA Provider in Connection with Ponzi Scheme

Equity Trust Company, an Ohio-based IRA provider,is facing SEC charges for allegedly ignoring the warning signs on accounts that eventually were discovered to be fraudulent. According to the SEC’s allegations, Equity Trust Company marketed investments offered by two individuals: Ephren Taylor – Defrauded members of a church with a Ponzi scheme Randy Poulson – Charged… read more

Former Ohio State Representative Peter Beck Found Guilty on 13 Counts

A former Ohio lawmaker was found guilty this week on 13 of the 38 total felony counts against him for his role in an investment scheme. Back in July 2013, we reported that Peter Beck, the now-former Ohio lawmaker, had been indicted on multiple felony state securities fraud charges after, allegedly, bilking investors out of… read more