Ohio Group President Admits Guilt

Ohio Group President Admits Guilt

Telson Okhio, president, Ohio Group Holdings Inc., has entered a guilty pleas for his role in wire fraud.  Okhio could be facing a maximum sentence of 20 years in prison.  Ohio Group Holdings and Okhio have been committing fraud in 2009 when Okhio impersonated an investment advisor.

According to the charges filed against him, the firm and Okhio have defrauded an investor by asking for $5 million.  The investor, based in Hawaii was assured that his money is getting invested in a $100 million trading platform.  He was also promised a 200% return in an almost impossible time frame of 4 weeks since his money was getting invested in a $100 million trading platform.

The unsuspecting investor sent in $5 million by wire transfer from his bank in Hawaii to Ohio Group Holding’s bank account with Bank of America in Queens, New York.  In the blink of any eye, Okhio had withdrawn $1 million from this transfer but not for the promised investment but for his own personal use, charged the prosecutors.

The money was transferred first to his personal account with JPMorgan Chase in the same locality of Queens, New York.  Okhio then used ATM withdrawals and bank transfers to take out the $ 1 million.

Okhio’s guilty plea was entered in the US courthouse in Brooklyn, New York with Judge Roslynn R.Mauskopf.  The guilty plea was announced by the Assistant Director in Charge, FBI, New York field office, Janice K.Fedarcyk and the US Attorney for the Eastern District of New York, Loretta E.Lynch.

Lynch also had a word of caution to people when she was announcing the guilty plea.  She cautioned people about trusting something that sounded surprisingly good saying that investors should take the effort of checking the credentials of the scheme and the person behind it.  She also described Okhio as a con man.

Okhio is one of the latest admitted scammers to be nabbed thanks to the Obama administration coming down hard on the perpetrators of financial crimes.  The Financial Fraud Enforcement Task Force is sweeping in its fight against this kind of crime and nabbing criminals who are engaging in financial fraud.

2 Responses to Ohio Group President Admits Guilt

  1. HE is not a con man!. He is a loyal friend and husband. Anyone that has known MR. Okhio knows that he is true to his word! .  Other people tend to use MR . Okhio. ONCE AGAIN HE HAS NEVER CONED ANY MAN FOR ANYTHING HE IS A HARD WORKER,AND A VERY CAREING MAN . WHERE IS THE PROOOF!. 

    Mhunny29
    April 4, 2012 at 4:33 pm
    Reply

    • Lol, married. He wasn’t that married when he was screwing around ! Im not surprised (Telson). A liar, cheater and yes a con man!

      Angela
      May 16, 2013 at 2:07 am
      Reply

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