(Undated) - The Cincinnati man who helped run a Ponzi scheme in the tri-state has pleaded guilty in federal court.

Jasen Snelling, 48, was already sentenced to eight years in prison in Dearborn County on Monday, June 25. He and his accomplice, Brookville resident Jerry Smith, each face up to 25 years in their federal cases.

Snelling and Smith ran two investment companies named CityFund and Dunhill Investments to scam 72 people in the area out of $9 million. Prosecutors said most of the investors funds were never invested in anything, other than Smith and Snelling’s “exorbitant personal expenses and lifestyles.”

VIEW THE CHARGING INFORMATION AGAINST SMITH AND SNELLING HERE (PDF).

Snelling pleaded guilty in U.S. District Court of Southern Ohio to wire fraud, tax evasion, and obstruction of justice. His sentencing date has not been scheduled.

Smith pleaded guilty to the same charges in federal court earlier this month. 

LINKS:

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