COLUMBUS — An Ohio man was formally charged with fraud in connection with investments in a cannabis candy company.
[DOWNLOAD: Free WHIO-TV News app for alerts as news breaks]
The Ohio Department of Commerce Division of Securities announced last week that a Cuyahoga County Grand Jury indicted 54-year-old Garett Fortune of Rocky River on 20 felony counts related to securities fraud stemming from alleged incidents involving six investors between June 2021 and May 2022.
TRENDING STORIES:
- Humanitarian aid organization to send disaster relief team to Kentucky
- 1 hospitalized after crash in Springfield
- Heat advisory in effect Monday through Thursday
Fortune was indicted on Monday, June 22, on six counts of false representation, six counts of securities fraud, four counts of theft from a person in a protected class, three counts of grand theft, and one count of money laundering.
In total, he faces five second-degree felonies, nine third-degree felonies, and six fourth-degree felonies.
The indictment alleges that Fortune solicited $200,000 in investments from six individuals for the purpose of operating a cannabis candy company.
However, the indictment alleges that he misrepresented material facts about the investment to the investors and failed to disclose necessary information to the investors.
The case is being prosecuted by the Cuyahoga County Prosecutor’s Office in partnership with the Ohio Division of Securities.
[SIGN UP: WHIO-TV Daily Headlines Newsletter]