Recovering Losses caused by Investment Misconduct

President of Ohio Investment Firm Still at Large in Alleged Investment Fraud Case

Jasen Snelling, President and Managing Member of Cincinnati-based Dunhill Investment Advisers, is missing ("$4.5M Ponzi scheme probed," Cincinnati.com, July 9, 2011).

He and his partner, Jerry Smith of Brookville, Indiana, face multiple felony charges in counties across Indiana: 18 felony counts each in Dearborn County, and 25 felony counts each in Franklin County. The charges stem from an alleged investment scam that authorities now say defrauded investors in Ohio, Indiana, and Kentucky out of more than $4.5 million.

According to the Indiana Secretary of State, neither Snelling nor Smith was registered to sell securities in the state of Indiana. Prosecutors allege that the men, through their companies: Dunhill Investment Advisers, CityFund Advisory, and Mobius Investing, sold millions of dollars in unregistered securities to individual investors and then used the money for personal purposes.

"Records obtained by PAU investigators show investor monies going into the accounts of CityFund and Dunhill investments, and records show expenditures from CityFund and Dunhill investments to pay for personal expenses of Smith and Snelling: including credit cards, mortgages, vacations, vehicles, orthodontia, and plastic surgery; with no money being traded since 2008," said the Secretary's office.

The two men appeared in court in Franklin County on March 7 for their initial hearing, and were released on bond. The Franklin County trial is scheduled to start tomorrow, July 13. A pre-trial date for Smith has been set for August 31 in Dearborn County.

For more information about the investment scheme, read the Cincinnati.com article here.

About our law firm:

The Ohio-based law firm of David P. Meyer & Associates represents individuals in Ohio and throughout the country who have been harmed by investment fraud. All of our cases are handled on a contingency fee basis and we never request a retainer of any kind. Contact us toll-free at 1.866.827-6537 for more information or complete the online form on the top of this page and we will respond promptly.