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Group Settles Securities Fraud Allegations

COLUMBUS, Ohio – As reported by the Lima News: "A group trying to bring a casino to Botkins has settled with the state over the unregistered sales of securities.

"National Capital I and its president, Tom Schnippel, reached settlement this week with the Ohio Department of Commerce Division of Securities to not sell securities without following Ohio law, said Dennis Ginty, a spokesman for the department of commerce.

"In the settlement, the company admitted to selling unregistered securities, making false representation in the sale of securities and engaging in security fraud, Ginty said.

"The company was not fined and there were no other sanctions imposed other that what is referred to as an official finding, Ginty said.

"National Capital's attorney, Charles Hertlein of Cincinnati, said the only problem was his client did not have the appropriate paperwork on file with the state. There was no allegations of misappropriations of investor funds or misuse of funds, he said.

" The Eastern Shawnee Indian Tribe is working with National Capital I to develop a casino in the Botkins area. Lima-based A Piece of the Action LLC was formed to try to stake first claim to the sale of beverages should a casino be built…"

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