Archive for the ‘Ohio’ Category

Small Time Looks Big When It’s Your Money

Tuesday, April 14th, 2009

The SEC has charged Julie M. Jarvis of Columbus, Ohio, and her company, Crossroads Financial Planning, Inc., with securities fraud.  According to the SEC, Jarvis looted at least $2.3 million from two senior citizens who depended on Jarvis to secure their financial future. (more…)

Special Offer For Friends and Family

Wednesday, October 29th, 2008

The Securities and Exchange Commission (SEC) has charged Raymond Thomas and his company, Strictly Stocks Investment Company, Inc, with fraudulently raising at least $620,000 from his friends and family through a stock market scheme.  (more…)

SEC Shuts Down Unusual Alleged $70 Million Scam

Wednesday, July 23rd, 2008

The SEC has shut down an unusual alleged scheme in Ohio.  According the SEC,  Michael Spillan, his wife Melissa Spillan, and their companies, One Equity Corporation, Triangle Equities Group, Inc., Victory Management Group, Inc. and Dafcan Finance, Inc.  held themselves out as lenders who would take publicly traded stock as security for the loans.  (more…)

Convicted Scamster on the Run

Tuesday, May 6th, 2008

National Century Financial Enterprises (NCFE) grew rapidly, purportedly by buying and collecting the receivables of health care providers and keeping a percentage.  In 2002, though, allegations emerged that NCFE was making improper payments to health care providers in which it owned an interest and that the company’s officers were siphoning off investor money to support extravagant lifestyles.  The Columbus Dispatch reported: (more…)

“Just Trust Me”

Thursday, April 17th, 2008

“Just trust me,” Jerry Ray Rose would say.  More than 200 people did and lost more than $25 million to the insurance agent turned Ponzi scheme operator.  Like all successful Ponzi operators, Rose is smooth and winning - one of those people born with the charisma gene.  He displayed the trappings of success — fast cars and designer watches — further cementing his image as a successful financier.  

Janice Morse of The Enquirer in Cincinnati reports: (more…)

SEC Files Charges Against Alleged Fraud Targeting Seniors

Tuesday, November 20th, 2007

The Securities and Exchange Commission today filed charges against Detroit-area resident Edward May and his company E-M Management Co. LLC alleging that they ran a $250 million fraud for nine years between 1998 and July 2007. According to the SEC, May and E-M defrauded 1,200 investors, many of them senior citizens by falsely representing that they had contracts to provide telecommunications services to several Las Vegas hotels.  May and E-M used “investment seminars” to attract potential investors, touting deals with such major hotel chains and casinos as Hilton, MGM Grand, Motel 6, Tropicana and Sheraton.  The SEC claims that no such deals or contracts ever existed.

The alleged scheme took in investors from several states, including Michigan, California, Florida, Illinois, New York, Ohio and New Jersey.  The case is pending in the U.S. District (more…)