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Ohio Man Faces Felony Securities Fraud Charges

Posted on Aug 27, 2011

A Reynoldsburg man has been indicted following a criminal referral by the Ohio Department of Commerce's Division of Securities. On July 22, 2011, a grand jury indicted Isaac J. Castile III for the alleged mishandling of funds from Central Ohio investors.

Mr. Castile was the chairman and CEO of Columbus-based Metropolitan Enhancement Corporation. Mr. Castile has been accused of telling three Ohio investors that he would invest their funds (totaling about $275,000) in US Treasury Bills. He allegedly promised them returns of 10%, 50%, and 100%. However, he is accused of never purchasing the treasury bills.

In relation to this alleged investment scam, Mr. Castile has been indicted on the following charges: three counts of securities fraud, three counts of false representations in the sales of securities, three counts of the sales of unregistered securities, and three counts of theft.

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