January 6, 2025, press release from the Ohio Department of Public Safety, Ohio Investigative Unit: CLEVELAND, OHIO — The Ohio Investigative Unit (OIU) and Cuyahoga County Prosecutor’s Office have announced the indictment of Hafedh Al-Gahim, 52, of Brooklyn, New York, and his company Buffalo Discount Corp. Al-Gahim and his company are accused of defrauding more than $125,000 in Supplemental Nutrition Assistance Program (SNAP) benefits from Ohio recipients.
December 12, 2024, Press Release from the Ohio Department of Commerce Division of Financial Institutions (DFI): Columbus, OH – As Ohioans search for the perfect gifts this holiday season, it is likely many individuals will choose to purchase gift cards to give to family and loved ones. According to the National Retail Federation’s 2024 Holiday Consumer Survey, approximately 44% of consumers expect to give a gift card as a present this season, making it the second most-popular category behind only clothing at 54%.
With the holidays now upon us, many are starting to rev up their online gift shopping. If it looks too good to be true, it usually isn't. Financial fraud officials say to be diligent when shopping online and make sure you are purchasing from a reputable business. Many times there are scammers or spoofers that look legit but really are not. If you feel like you may have been scammed, call your financial institution, watch your accounts, and hope your merchandise gets delivered.
The West Ohio Food Bank helping their partner agencies stay informed to better serve their clients. Partner agencies from all 11 counties they serve attended their annual meeting. The meeting covered food safety, policies, and civil rights training. Because many of the agencies work with senior citizens, the Ohio Attorney General's Office had a representative to talk about senior scams and how to spot someone who is being ripped off.
FBI investigators say that Sir Maejor Page of Toledo defrauded donors for more than $450,000 that they thought was going to Black Lives Matter of Greater Atlanta.
September 13, 2024, Press Release from the Ohio Department of Commerce: COLUMBUS, Ohio – The Ohio Department of Commerce Division of Securities is warning Ohioans about an increased risk of affinity fraud and the significant financial impact it can have on victims. Affinity fraud scams exploit the trust and friendship that exist within groups of people who share common interests in order to exploit vulnerable investors. Often times, affinity fraud victims are targeted through their religious affiliation, and fraudsters may even enlist respected leaders within the group to unknowingly promote fraudulent investment opportunities. According to the North American Securities Administrators Association, last year, states across the country received 2,761 reports of such financial exploitation, which was nearly a 100% increase from the previous year.
August 21, 2024, Press Release from the Ohio Department of Commerce: COLUMBUS, Ohio – In 2023 alone, Ohioans sent more than $2 trillion through money transmitter services, which has more than doubled from 2018. While traditional services like Western Union and MoneyGram allow individuals to easily send money to family and friends, including overseas, newer online companies like Fintech Digital and crypto exchanges pose a higher risk of fraud. The Ohio Department of Commerce Division of Financial Institutions (DFI) is highlighting how Ohioans can protect themselves – and their money – from potential risks. With the proliferation of online money transmitters for holding and transmitting funds, consumers should be aware of potential scams, especially those involving crypto wallets or online purchases. Fraudsters may set up fake companies or pressure individuals into sending money under false pretenses, such as a family emergency. Unlike online digital payment networks such as Venmo or Zelle, which require extensive user verification, some of these money transmitter services are prime areas for scammers to exploit due to their less stringent account setup processes.
July 22, 2024, Press Release from the Ohio Turnpike and Infrastructure Commission: BEREA, Ohio (July 22, 2024) – The Ohio Turnpike and Infrastructure Commission is reminding toll customers everywhere to be aware of a resurgence in fraudulent texts from scammers requesting payment for unpaid tolls through fraudulent websites. The Ohio Turnpike does NOT request its E-ZPass customers to make payments by text. Collections of unpaid tolls and/or toll violations do NOT occur by text either.
July 17, 2024, Press Release from the Office of Ohio Attorney General Dave Yost: (TOLEDO, Ohio) — Managers of a Lucas County investment firm accused of deceiving and defrauding investors in a decade-long scheme have been reindicted on multiple felonies as part of multi-year investigation and prosecution, Ohio Attorney General Dave Yost announced today. The indictments, filed in Common Pleas Court in Lucas and Hamilton counties, charge the seven financial managers with cheating at least 200 clients out of more than $72 million. The case centers on Northwest Capital, a Toledo investment firm that serves as an intermediary between investors and businesses raising capital by selling accounts receivables. Prosecutors allege that from January 2011 to December 2021 the defendants solicited clients to buy alternative investments from securities issuers without fully disclosing the managers’ conflicts of interest. The defendants also manipulated funds among interrelated entities to make the investments appear successful. To continue raising additional capital from investors, the Northwest Capital managers and their business associates created new, affiliated entities for investment without disclosing to existing investors the poor financial condition of these companies and the monitoring fees skimmed by the defendants. They then certified false investment values, which were shared in annual statements issued to investors.
