Mercer County Man Indicted on 96 Criminal Counts Including Securities Fraud and Theft

Counts range from fifth- to first-degree felonies.

CELINA, Ohio – The Ohio Department of Commerce Division of Securities announces that Christopher T. Wendel, a resident of Mercer County, Ohio, has been indicted on 96 criminal counts for allegedly defrauding Ohioans out of more than $1 million. The counts range from fifth- to first-degree felonies and include securities fraud, unlicensed securities activity, misrepresentation in the sale of a security, sale of unregistered securities, theft, and telecommunications fraud.

The indictment alleges that from 2019 through 2021, Wendel solicited ten Ohio residents, some of whom are elderly, to invest over $1.2 million in his company, Buckeye Income Fund, LLC, through material misrepresentations and fraud.

In May 2018, Wendel entered into an Acceptance, Waiver, and Consent agreement with the Financial Industry Regulatory Authority (FINRA), which barred Wendel from associating with FINRA members in any capacity based on findings that he engaged in private transactions without the approval of his firm and provided false responses during FINRA’s investigation.

In August 2019, the Ohio Division of Securities issued a cease-and-desist order with consent in order number 19-018 based on findings that Wendel engaged in the unlicensed sale of unregistered securities.

Wendel was arrested on July 21. He is currently incarcerated in the Mercer County Jail awaiting his arraignment and bond hearing. The case was presented by the Mercer County Prosecutor's Office.

“This case highlights our unwavering commitment to protect Ohio investors and maintain the integrity of our investment market,” said Ohio Securities Commissioner Andrea Seidt. “Before making any investment decisions, we strongly urge individuals to verify the credentials of the financial advisor with whom they’re working and investment opportunity being presented to them, and to report any instances of suspected fraud immediately to the Ohio Division of Securities."

Before finalizing any investments, the Division of Securities encourages potential investors to call the Division’s Investor Protection Hotline at 877-683-7841 to ask:

• Is the securities professional, platform or firm properly licensed to do business in Ohio?
• Is the security being promoted by the firm, platform or the professional registered for sale in Ohio?
• Are there any enforcement actions involving the firm, professional, platform, or securities product being promoted?

Ohioans with any questions or concerns about investments or financial advisors should contact the Division of Securities at 614-644-7381, securitiesgeneral.questions@com.ohio.gov, or by completing its online contact form here.

###

The Division of Securities is part of the Ohio Department of Commerce. The department is Ohio’s chief regulatory agency, focused on promoting prosperity and protecting what matters most to Ohioans. We ensure businesses follow the laws that help them create jobs and keep Ohioans safe. To learn more about what we do, visit our website at com.ohio.gov.

To read the indictment against Wendel:

Click Here