TOLEDO, OH (WTRF) — Two people have been indicted on charges tied to an alleged $1.7 million Ponzi scheme involving investors in Ohio and Michigan.
George Flanner, 70, of Toledo, and Kristin Holcomb, 69, of Chelsea, Michigan, face dozens of felony charges. The charges include securities fraud, aggravated theft, engaging in a pattern of corrupt activity and theft from a person in a protected class.
According to the indictment, Flanner used his position as a licensed investment adviser in Ohio to recruit clients for the Made in the Trade Investment Club, a Michigan company operated by Holcomb. Many of the clients were elderly…