Former Hilliard Resident Charged With Running $1.5 Million Investment Fraud Scheme
A federal grand jury indicted a former Hilliard resident in connection with allegedly defrauding investigators out of more than $1.5 million.
According to the U.S. Attorney’s Office, Jeffrey G. Kelly defrauded investors out of the money between May 2006 and July 2011.
Kelly, 44, was arrested at his workplace in Orlando, Fla., on Friday.
According to the U.S. Attorney’s Office, Kelly solicited some of his clients from his insurance and investment company, J.G. Kelly Financial Group to invest in private funds named Superior Financial Resources LCC and J.G. Kelly Equities Group LLC, among others.
Kelly allegedly told investors he would put their money in annuities, stocks, a pooled income fund, real estate investment trusts and other investments.
The indictment alleges that Kelly used the money to pay for his own personal and business expenses as well as to repay earlier investors.
Kelly is charged with 13 counts of wire fraud, three counts of mail fraud and one count of interstate transportation of stolen securities.
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