Investment firm managers defrauded hundreds of clients out of $72 million, Ohio AG says

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Seven Ohio investors who were affiliated with Northwest Capital allegedly defrauded investors during a decade-long scheme, according to the Ohio Attorney General.

Seven Ohio investors are accused of defrauding hundreds of investors in a decades-long scheme. The Ohio Attorney General announced it has reindicted the defendants, who were initially charged in 2023.CLEVELAND, Ohio – Seven Ohio investment managers have been charged again in a decadelong scheme that defrauded more than 200 investors out of over $72 million, officials said.

The defendants were managers of Northwest Capital, a Lucas County investment firm. They are accused of steering clients toward investing their money in areas where the defendants had a conflict of interest and manipulating funds “to make the investments appear successful,” according to a news release from Ohio Attorney General Dave Yost.

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