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 millions. This Tuesday, a Hamilton County Common Pleas Judge found Beck guilty on 13 of his 38 counts.
Initially, he was indicated on 16 charges, but an additional 54 counts were added the next February. During the course of Beck’s trial, prosecutors amended the second indictment and the judge dismissed one for a total of 38 counts.
Beck, formerly the mayor of Mason, Ohio as well as a state representative, faced accusations of running an investment scheme involving two companies – Christopher Technologies and TML Consulting. Beck’s sentencing is set for August 20 at 9am where he faces the possibility of 50 years in prison.
One of the counts that Beck was acquitted of was the most severe – engaging in a pattern of corrupt activity. If convicted, he would have received a mandatory 10-year prison term. Additionally, 14 investors filed a lawsuit against Beck.
Beck did not act alone. There were several other individuals involved in the string of investments in Christopher Technologies and TML Consulting. The individuals who accepted plea deals include John Fussner, former CEO and Co-Founder of Christopher Technologies, business consultant Vernon DeMois, and Janet Combs.