Toledo Financial Managers Indicted in Multi-Million Dollar Investment Fraud Scheme

Eight financial managers from Toledo's Northwest Capital investment firm have been arrested and charged with dozens of felonies for allegedly cheating at least 200 clients out of $72 million in a decades-long fraud scheme. The managers are accused of engaging in a pattern of corrupt activity, unlawful securities practices, telecommunications fraud, aggravated theft, perjury, money laundering, and several other financial charges. The indictment follows a multi-year investigation by numerous state agencies.