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Government and Politics


Ohio lawmaker is accused of securities fraud
Republican Peter Beck is indicted and could face 102 years in prison
Story by TANA WEINGARTNER


 
Republican state Rep. Peter Beck's lawyer says he'll fight the charges.
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Ohio Rep. Peter Beck has been indicted on 16 felony counts of securities fraud and theft. For Ohio Public Radio, WVXU's Tana Weingartner has the story.

LISTEN: The case against Beck

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The Republican from the Cincinnati suburb of Mason could face up to 102 years in prison if he's convicted of the securities charges.

He and his business partner John Fussner are accuse dof using money meant for business purposes for personal matters. Ohio Attorney General Mike DeWine says the pair knew their company was insolvent and deceived investors to keep it afloat.

“Investors lost $200,000. As I indicated, the indictments stem from a referral by the Ohio Department of Commerce, Division of Securities. Let me just add that this is an ongoing investigation. The investigation is not complete and there is the possibility of additional charges in the future.”

Earlier this year, investors sued Beck, accusing him and others of misusing $1.2 million.

Beck’s attorney has said the charges are unsupported and he will mount a “vigorous defense.” But he did not comment after the indictment.

The Hamilton County grand jury also indicted Fussner on seven securities fraud charges. He could face up to 43 years in prison.

 

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