The Lead Off
- A Rocky River man has been indicted on 20 felony charges in connection with an alleged investment fraud scheme involving a cannabis candy company.
- Prosecutors allege six investors contributed a combined $200,000 between June 2021 and May 2022.
- The case is being prosecuted by the Cuyahoga County Prosecutor’s Office in partnership with the Ohio Division of Securities.
COLUMBUS, OHIO (WOWO) A Cuyahoga County grand jury has indicted a Northeast Ohio man on 20 felony charges stemming from an alleged securities fraud scheme involving investments in a cannabis candy company, according to the Ohio Department of Commerce Division of Securities.
State officials announced that 54-year-old Garett Fortune of Rocky River was indicted on June 22 following an investigation into alleged incidents involving six investors between June 2021 and May 2022.
Charges outlined in indictment
According to the indictment, Fortune faces:
- 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
- One count of money laundering
The charges include five second-degree felonies, nine third-degree felonies, and six fourth-degree felonies.
Alleged investment scheme
According to prosecutors, Fortune allegedly solicited approximately $200,000 from six individuals to fund the operation of a cannabis candy company according to WHIO.
The indictment alleges he misrepresented material facts about the investment opportunity and failed to disclose information necessary for investors to make informed decisions.
The indictment contains allegations only. Fortune is presumed innocent unless and until proven guilty in court.
Investigation and prosecution
The Ohio Department of Commerce Division of Securities announced the indictment last week, saying the case is being prosecuted by the Cuyahoga County Prosecutor’s Office in partnership with the Division of Securities.
The Division of Securities is responsible for enforcing Ohio securities laws and investigating alleged investment fraud throughout the state.
The Takeaway
- A Cuyahoga County grand jury has indicted Rocky River resident Garett Fortune on 20 felony charges related to an alleged cannabis candy company investment scheme involving six investors.
- Prosecutors allege approximately $200,000 was solicited through false representations and omissions between June 2021 and May 2022, resulting in charges ranging from securities fraud to money laundering.
- The criminal case will proceed through the Cuyahoga County court system, where prosecutors will seek to prove the allegations while the defendant remains presumed innocent unless convicted.
Next steps
The case will move through the Cuyahoga County Common Pleas Court, where Fortune is expected to appear for arraignment and subsequent pretrial proceedings. Prosecutors and defense attorneys will continue the legal process as the case advances toward trial or other court action.
