CLOSE

A Warren County man concerned in buying and promoting web site domains has pleaded responsible to securities fraud and cash laundering fees, and is scheduled to be sentenced in December.

Aaron S. Pitman has agreed to pay $300,000 to a sufferer within the case on or earlier than the sentencing, which is scheduled for Dec. 16, in keeping with the Ohio Division of Commerce’s Division of Securities.

Court docket paperwork say Pitman, a 32-year-old resident of South Lebanon, solicited a Meigs County man to spend money on a number of companies concerned within the buy and growth of web site domains.

Among the many man’s investments was $750,000 in an organization that managed “Dependent.com,” in keeping with court docket paperwork. However prosecutors say Pitman did not make investments the cash. As a substitute, prosecutors say he falsely claimed the funding was for constructing a web site and directing visitors to it. He additionally falsely claimed he would promote the web site, and the person would get his a reimbursement together with revenue.

Officers stated Pitman as an alternative laundered the cash by accounts held within the identify of a enterprise owned and operated by 80-year-old George “Roderick” Hammons of Denver, Colorado. The cash then was funneled to varied companies and private accounts maintained by Pitman and Hammons.

Pitman pleaded responsible earlier this month in Meigs County Frequent Pleas Court docket to 1 rely of securities fraud and one rely of misrepresentations within the sale of securities, each first-degree felonies, and 4 counts of cash laundering, that are third-degree felonies.

Hammons pleaded responsible in November 2019 to cash laundering and was sentenced to 5 years of probation, court docket information present. He was ordered to pay $10,000 in restitution.

In August, the First District Court docket of Appeals allowed a lawsuit in opposition to Pitman to proceed. It alleges that Pitman obtained a complete of $1.1 million from the sufferer within the prison case to purchase web site domains that Pitman and presumably others already owned.

Learn or Share this story: https://www.cincinnati.com/story/information/2020/10/26/warren-county-man-sentenced-1-million-website-domains-fraud/6042849002/