A Cincinnati man was convicted in an Indiana investment fraud case that allegedly took in over $3 million. An investment fraud attorney has the details here.
According to an article in the Dearborn County Register, Cincinnati resident Jasen M. Snelling was recently convicted of running an alleged Indiana investment fraud scheme that took in more than $3 million from investors in Indiana. Snelling was sentenced to 10 years in federal prison as a part of the plea deal in the case, and he was also sentenced to six years in prison for securities fraud in a related case in Dearborn County.
According to prosecutors, Snelling and a co-defendant allegedly took in money from investors for securities while operating under company names Dunhill Investments and CityFund Advisory. Neither Snelling nor the securities he sold were registered in Indiana, and he allegedly pocketed the cash from investors for his own personal use. Jerry A. Smith, of Brookville, Indiana, the co-defendant in the case, is still awaiting trial.
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Secretary of State Connie Lawson, whose office investigated the Snelling case, offered congratulations to the Franklin County prosecutor in the case. “Securities fraud is a serious crime, and by working together we can root out more fraud and abuse and stop these schemes before investors lose millions,” Lawson said, adding that her office would continue to go after con artists and hold them accountable for their harm to investors.
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