Licensed Cincinnati Insurance Agent Charged with Securities Fraud and Theft
As one more defendant in a slew of recent securities fraud cases, Mark Kirchoff, President of G.K. Insurance & Financial in Cincinnati, was indicted in a Clermont County court on Wednesday for felony charges related to an alleged Ponzi scheme.Investigators accuse Kirchoff of scamming investors out of their life savings by using money from new investors to pay off old investors and of misappropriating more than $250,000 in investor funds by depositing checks into his personal bank account. Most of Kirchoff's victims were elderly residents of southwest Ohio. One of the victims is 90-years-old. Another victim is living with a disability.
From 1991 until March of 2010, Kirchoff was a licensed insurance agent in Ohio. He is charged with twenty-one felony counts, including: securities fraud, theft and racketeering.
Kirchoff was arraigned on Thursday at the Clermont County Common Pleas Court. His bail has been set at $750,000.
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The Ohio-based law firm of David P. Meyer & Associates represents individual investors who have been harmed by investment fraud. Out cases are handled on a contingency fee basis. Contact us toll-free at 1.866.827.6537 for more information.
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