DAYTON – A Wilmington man has been indicted for grand theft in an alleged real estate investment scam.
According to a release from Ohio Department of Commerce, Shawn Long was indicted on May 1 by a Montgomery County grand jury on two counts of grand theft, both fourth-degree felonies.
“The indictment alleges Long, 46, misappropriated between $7,500 to $150,000 from an Ohio resident in funds received related to a real estate investment between Oct. 19, 2018, to July 31, 2019,” the release states.
The indictment followed a criminal referral by the Ohio Division of Securities.
This case is being prosecuted by the office of Montgomery County Prosecutor Mathias Heck Jr.
Long is scheduled to appear in Montgomery County Common Pleas Court on May 16.
The Ohio Division of Securities is encouraging all potential investors to call the Division’s Investor Protection Hotline at 877-683-7841 before investing and 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?
Reach John Hamilton at 937-382-2574