A Jackson Center woman has been indicted on 50 charges stemming from an investigation into an alleged investment scheme involving more than $400,000.
The Ohio Department of Commerce Division of Securities and Shelby County Prosecutor’s Office announced Friday that 38 year old Chandra Snapp was indicted by a Shelby County Grand Jury on August 27.
Authorities allege Snapp solicited more than $400,000 from at least nine investors beginning in 2023.
According to the Ohio Department of Commerce, the alleged investments involved Snapp’s small sewing business along with investments in gift cards in which substantial short term profits were allegedly promised.
The 50 count indictment includes six counts of misrepresentation in the sale of securities, six counts of securities fraud and seven counts involving the sale of unregistered securities.
Snapp is also charged with one count of engaging in a pattern of corrupt activity, four counts of telecommunications fraud, one count of money laundering, nine counts of passing bad checks, five counts of forgery, two counts of aggravated theft, three counts of grand theft, three counts of theft, one count of tampering with evidence and two counts of receiving stolen property.
The charges include four first degree felonies, seven second degree felonies, 11 third degree felonies, 16 fourth degree felonies, 10 fifth degree felonies and two first degree misdemeanors.
Snapp was arrested August 27 and, according to the release, was being held at the Shelby County Correctional Facility.
The case is being prosecuted by the Shelby County Prosecutor’s Office in partnership with the Ohio Division of Securities following an investigation by the Shelby County Sheriff’s Office.
Ohio Securities Commissioner Andrea Seidt said the state is committed to protecting investors and taking action when fraudulent conduct is alleged.
Shelby County Prosecutor William R. Zimmerman Jr. said financial fraud investigations can require significant coordination and credited the Division of Securities and Shelby County Sheriff’s Office for their work on the case.
An indictment is a formal accusation and is not a finding of guilt.
