A West Chester Twp. resident has been indicted on five felony charges involving an alleged securities fraud scheme and theft from the elderly.
Ronald Lee Jennings, 75, was indicted Tuesday by a Butler County grand jury for misrepresentation in the sale of a security, securities fraud, selling an unregistered security and two counts of theft from an elderly person. All five counts are felonies of the second degree, according to the Ohio Department of Commerce.
The indictment against Jennings is a result of allegations that he received $91,000 from an elderly Ohio resident in exchange for a note of corporation issued by his business, Mature Planning Personal Services Inc., which also operated as Mature Planning Financial Services Inc.
The indictment alleges that Jennings solicited the elderly investor using false representations and material omissions about the nature of the businesses and the nature of the transaction.
The indictment further alleges that the note was not properly registered for sale in or from Ohio.
A summons has been issued for Jennings to appear for arraignment on Jan. 8.
If convicted on all counts, Jennings faces up to 40 years in prison. The case is being prosecuted by the Butler County Prosecutor’s Office.