A Westlake man is accused of securities fraud and theft, including theft from an elderly person.
A gavel photographed in Cuyahoga County Common Pleas Court on Dec. 14, 2022.CLEVELAND, Ohio - A grand jury has indicted a man from Westlake and accuses him of securities fraud, theft and unlicensed activity, among others, in a total of 95 felony criminal counts,
Robert F. Earl, 76, faces allegations from 2016 through 2021 of solicitation of 12 investors from Ohio, Florida, New York and Virginia to invest more than $347,000 in Aquarius II Investment Funds LLC. Earl created the company to engage in day trading. Earl is accused of then transfering most of the funds into a personal trading account while issuing false statements of the value of the securities to the investors even after the funds were lost or misappropriated.
Before investing, the Ohio Department of Commerce’s Division of Securities encourages potential investors to call the Division’s Investor Protection Hotline at 877-683-7841. Questions to ask include if the securities professional, platform, or firm is properly licensed to do business in Ohio, if the security being promoted is registered for sale in Ohio, and if there are any enforcement actions involving the firm, professional, platform, or securities product being promoted.
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