Miami County man pleads no contest to securities, fraud, theft charges

PIQUA — A Piqua man pleaded no contest to more than a dozen felony charges involving fraudulent behavior that lasted just over six years.

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Scott Fries, 56, entered his plea of no contest in Miami County Common to 16 felony charges, including:

• One count of engaging in a pattern of corrupt activity
• Three counts of misrepresentation in the sale of securities
• Four counts of securities fraud
• Two counts of fraudulent, deceptive conduct as an investment advisor representative
• Two counts of grand theft
• One count of false reports
• Two counts of theft from a protected class
• One count of aggravated theft

Fries was originally indicted on 44 felony counts in November 2021. He was accused of telling nine Ohio investors that he would place their funds in an investment account, according to a spokesperson from the Ohio Department of Commerce. He allegedly put those funds into his own personal accounts and used the money to pay for personal expenses and a prior investor.

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The crimes happened between March 2016 and June 2020, according to online court records.

Fries faces up to 83 years in prison. He has agreed to pay $418,000 in restitution.

As part of the plea of no contest, Fries was also ordered to forfeit a home at 3300 Sioux Drive in Piqua.

Fries is not currently booked in the Miami County Jail. His sentencing date has not been set.

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