Former Dayton Insurance Agent and Investment Adviser Sentenced for Ponzi Scheme Targeting Elderly
DAYTON - Former Dayton-area insurance agent and investment adviser John Gregory Schmidt was sentenced today in Montgomery County Court of Common Pleas to serve five years in prison. A joint investigation conducted by the Ohio Department of Insurance and the Ohio Department of Commerce revealed Schmidt had been operating a “Ponzi” scheme for more than a decade and defrauded elderly consumers. “Mr. Schmidt took advantage of his clients’ trust and broke the law,” said Jillian Froment, Director of the Ohio […]