SEARCH NEWS:

 

Ohio Group Denies Wrongdoing

LIMA, Ohio – As reported by the Lima News: "A local group is denying wrongdoing in the wake of state Commerce Department allegations of securities fraud among efforts to start a casino in Botkins.

"National Capital I, its president Tom Schnippel, and Lima-based A Piece of the Action LLC were all named by the department. Department officials said A Piece of the Action partner Robert Bollinger sold shares of the company and earned a commission, even though he wasn't a licensed dealer.

"The state also accused Schnippel and National Capital I of engaging in the unregistered sale of securities and making false representations to investors.

"…The Commerce Department's Division of Securities said Bollinger received a $2,000 commission for each of the 11 sales of shares, the cost of which totaled $275,000.

"National Capital I attorney Charles Hertlein said the company wants to sort the matter out.

"…Both companies have combined to raise $1.68 million toward helping the tribe build casinos in Ohio, state records indicate…"

< Gaming News