News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Meaden & Moore

Don Drumm Studios

Akron General


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Courts and Crime


Vermilion financial planner charged
Feds say  money went to personal expenses and investments instead of investors and the IRS
by WKSU's M.L. SCHULTZE


Web Editor
M.L. Schultze
 
In The Region:

A northeastern Ohio financial planner has been charged with bilking nearly 100 clients – including churches and charities -- out of $4.4 million. WKSU’s M.L. Schultze has more.

 

SCHULTZE: Financial planner charged

Other options:
Windows Media / MP3 Download (0:53)


The federal charges against Richard Zakarian include wire fraud, mail fraud and making out false income tax returns.

The U.S. attorney’s office says the 47-year-old Vermilion man ran several businesses including those that did tax preparation and payroll for nonprofit clients.

Zakarian’s accused of using his Ben Franklin Payroll Service to deduct money for taxes from clients’ payroll, and then never filing the returns. He alleged used the money instead to make risky investments and pay personal and business expenses. He also allegedly lured  unsophisticated investors -- from 2002 through last year -- to invest their retirement funds and other savings in what they thought were safe accounts. But the charges say that money, too, went to  business and personal expenses and risky investments.

And he’s accused of using promissory notes and a shell company to shift investors’ money to himself .

The federal charges are in the form of an “information” rather than an indictment, which usually means a defendant is cooperating.

 

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

From warehouse to writer: Terry Pluto's Thanksgiving thank you
Dear Terry: On my 8th cup of coffee trying to get Thanksgiving "Brunch" done ahead of time because I work nights. However, I just had to stop to contact yo...

The first big private gift comes in for the pro football HOF project
The HOF has needed a shot in the arm for many years and this project will go a long way to getting the attraction the attention it deserves (next: upgrad...

Environmental study nears completion in East Liverpool
Twenty years ago my twin sister and I protested the building and operation of the WTI facility citing several studies that indicated the risk of cancer due to ...

HOF's Canton expansion could take an island and make it a village
I live in the block from Broad St to the Hall of Fame and will be impacted by the expansion. I am in the process of selling my home and planned to long before i...

Cleveland redeploys police to replace rejected red-light traffic cameras
Periodic rotational enforcement without warning does NOT change behavior and the city officials know that. This is the basis of all officer-run enforcement trap...

New enrollment period offers more insurance options
The removal of federal funding for healthcare CO-OPs may limit the growth of the CO-OP movement. http://www.healthcaretownhall.com/?p=6381

The family of Boardman vet killed in Vietnam receives his medals
My name is Mike Eisenbraun. I am Larry's brother. I was 14 years old when Larry was killed in Vietnam. He has been gone for 46 years but it seems like yester...

Cleveland seniors are creating new wealth -- and facing new challenges
Why is anyone surprised that we people over 65 are not retiring? If you have been paying attention, defined company funded pensions were phasing out in the eigh...

Ohio company cuts off a dairy supplier after allegations of animal abuse
these people should be held accountable for their actions. i would be more than pleased to see a year or more behind bars. i will NEVER eat anything that comes ...

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University