The Ohio Department of Commerce Division of Securities said Tom Manning had solicited at least five people from Central Ohio to invest more than $600,000 in promissory notes issued by his company, Blue Logic Capital for various projects including home construction and renovation.
Manning is accused of misappropriating those investor funds for his personal use or to repay others. The indictments also allege Manning had not properly registered the promissory notes with the Division of Securities and had omitted material facts from his investors.“This case is an unfortunate reminder that there are individuals who will attempt to manipulate and steal from others for their own gain,” Ohio Securities Commissioner Andrea Seidt said in a media release.
Manning was indicted on 19 charges related to the case including unlawful securities practices, grand theft, false representation in the sale of securities, and securities fraud.