Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Investment Fraud Indictment for Spectrum Pet Care's Frank Renick

President of Montgomery County Business Indicted for Fraud

Frank Renick, former president of Montgomery County-based Spectrum Pet Care, Inc., has been indicted on federal charges related to an alleged $7 million investment scheme. The indictment, which was unsealed after Renick’s arrest on June 4, charges him with three felony counts of mail fraud.

According to the U.S. Attorney’s Office for the Eastern District of Missouri, Renick stands accused of making false representations in order to persuade more than 250 investors in Missouri and elsewhere to invest substantial sums of money in Spectrum Pet Care. The indictment alleges that Renick misrepresented both Spectrum’s financial condition and the manner in which investors’ funds would be used. He also allegedly used “substantial portions” of the investors’ funds to make Ponzi-style payments to earlier investors and to pay his personal expenses. Authorities say investors lost millions of dollars in the scheme.

If convicted, Renick could be sentenced to up to 20 years in prison for each count of mail fraud. He also could be ordered to pay fines of up to $250,000 per count.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram