NEW PHILADELPHIA, Ohio (WTRF) - A New Philadelphia man must repay tens of thousands of dollars he stole by selling fraudulent securities in Tuscarawas County, according to Ohio Attorney General Mike DeWine.
In January, Keith Elsesser, 51, pleaded guilty to two felony counts of grand theft and four felony counts of unlawful securities practices for stealing more than $90 thousand from two victims.
Elsesser was sentenced on Tuesday to pay full restitution to both victims.
The Division of Securities led an investigation and found that Elsesser sold phony securities to two investors between 2011 and 2013. He led the two to believe they were investing in an energy drink venture.
Instead, the investigation found that Elsesser spent the money on things like groceries, movies, rental cars, and other entertainment.
Elsesser paid the first $10 thousand of the restitution on Tuesday, and was ordered to pay $1,500 a month hereafter. He was also sentenced to seven days in jail, and five years of community control. If he violates his community control, Elsesser could go to prison for six years.
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