MEDINA, Ohio — Steven Drexler, a 59-year-old man from New Franklin, has been indicted in Medina County on six felony counts amid allegations dating back to late 2018.
Authorities announced the following details of the indictment on Friday:
The indictment alleges that between Sept. 18, 2018, through Oct. 6, 2018, Drexler solicited an elderly couple living in Medina Township to invest $400,000 in an investment that was not registered with the state for sale in Ohio and submitted charges in the aggregate amount of $53,000 to the victim’s credit card without her authorization. Drexler met the victim through a contact at church when her husband was in the final stages of a terminal illness.
The charges include:
- Securities fraud
- Attempted theft by deception from an elderly person
- Theft by deception
- Misuse of credit cards
- Telecommunications fraud
“The indictment followed a criminal referral by the Ohio Department of Commerce’s Division of Securities,” authorities noted in a press release. “This case is being prosecuted by the Office of the Medina County Prosecutor, S. Forrest Thompson.”
Authorities are also reminding potential investors to call the Division of Securities investor protection to ask the following questions before making an investment:
- 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?
