Ohio financial adviser sentenced in $4.4M fraud
Written by Associated Press   
Friday, 09 August 2013 06:23

CLEVELAND (AP) — A financial adviser in northern Ohio has been sentenced to 17 years in prison after pleading guilty to defrauding more than $4.4 million from nearly 100 clients over a 10-year period.

Many churches and charities were among those that lost money.

A federal judge in Cleveland sentenced Richard Zakarian of Vermilion on Wednesday. He also was ordered to repay the $4.4 million.

U.S. Attorney Steven Dettelbach says Zakarian, a financial planner and self-employed tax preparer, lured investors with promises of guaranteed returns. Instead, the government says he made personal use of the money or invested in high-risk ventures.

Zakarian's attorney says his client is remorseful and wants to make amends.


Copyright 2013 The Associated Press.

 

Front Page Stories

ReadyCare moving to BGSU site
04/18/2014 | ALEX ASPACHER, Sentinel Staff Writer
article thumbnail

New patients will be matriculating at the Falcon Health Center next month.
Wood C [ ... ]


Perrysburg Twp. turns down road request
04/18/2014 | ALEX ASPACHER, Sentinel Staff Writer
article thumbnail

LIME CITY - Perrysburg Township trustees Wednesday rejected a company's request  [ ... ]


Other Front Page Articles