TOLEDO, OH (WOWO) A third suspect in a decade-long Ponzi scheme investigation in Ohio has pleaded guilty, WCMH reports.
James Delverne, a former managing member of Toledo investment firm Northwest Capital, admitted to defrauding investors of millions of dollars over a period spanning 2011 to 2021. The Ohio Attorney General’s Office says Delverne faces multiple charges, including bank fraud, money laundering, engaging in a pattern of corrupt activity, telecommunications fraud, theft, business scheme violations, and securities fraud.
In one case, Delverne and other defendants certified false investment values and created fake invoices to secure $7 million from three lending institutions. In a separate business scheme, Delverne allegedly defrauded investors of $3.5 million by failing to disclose the true value of companies he operated…