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Ohio Attorney General Mike DeWine
Ohio Man
Indicted in Connection with Investment Scheme Targeting Elderly
(CLEVELAND) -- Ohio Attorney General Mike DeWine announced today that a
Medina County man is facing felony charges in Cuyahoga County after an
investigation conducted as part of the Ohio Attorney General's Elder
Justice Initiative uncovered an alleged investment scheme targeting
older Ohioans.
A Cuyahoga County Grand Jury yesterday indicted Dennis Flood, 64, of
Brunswick, on three felony counts of theft.
The indictment follows an investigation by the Ohio Attorney General's
Bureau of Criminal Investigation (BCI) which found that Flood stole
approximately $180,000 from an elderly Cuyahoga County man and his
daughter by deceiving them into purchasing fictitious investment
certificates through his company, D.L. Flood Agency.
Flood allegedly spent the money on personal expenses.
BCI agents have also identified more than a dozen additional victims in
both Ohio and Pennsylvania who are also believed to have lost hundreds
of thousands of dollars after being convinced by the defendant to
purchase what they believed were certificates of deposit with a high
rate of return.
"Our investigation found that this suspect specifically targeted
vulnerable, elderly residents who were likely to either forget about
their investment or die before it was time to collect," said Attorney
General DeWine. "Those who prey on our older Ohioans need to know that
they will be held accountable."
Anyone who has invested with D.L. Flood Agency and believes they may be
a victim should contact the Ohio Attorney General's Office by calling
1-800-282-0515.
Flood is currently in the custody of the Cuyahoga County Sheriff's
Office, and prosecutors with the Cuyahoga County Prosecutor’s Office
will prosecute the case. Investigators with the Portage
County Sheriff's Office are assisting in the ongoing investigation.
In May 2014, Attorney General DeWine unveiled the Elder Justice
Initiative within the Attorney General's Office to increase the
investigation and prosecution of elder abuse cases and improve victims'
access to services in Ohio. Since the launch of the initiative,
the Attorney General's Office has received more than 100 requests for
assistance and has opened multiple criminal investigations. The
majority of complaints received are in regards to financial
exploitation of older adults ranging between $2,000 and $1,000,000.
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