WASHINGTON TWP. — More details have been released about an investigation into a Washington Township accounting firm.
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BCI trucks and trailers were seen by News Center 7 crews parked outside of Essex & Associates on Paragon Road.
A spokesperson for BCI confirmed they were there to assist the Ohio Department of Commerce in the execution of a search warrant.
A complaint filed in Montgomery County Common Pleas court accuses Essex & Associates along with various companies owned by Wayne T. Essex of defrauding investors.
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“In classic Ponzi scheme fashion, Defendants are falsely telling investors that their investment proceeds will be used to purchase real estate investment properties. In reality, Defendants are using investors’ funds to pay back earlier investors,” court documents state.
Investors’ funds were allegedly also used for personal use such as “medical expenses, utilities, car payments, and the $200,000 purchase of a 2025 Mercedes Benz Sprinter.”
At least 16 people throughout Ohio have invested over $4.2 million, court docs allege.
Impacted investors are asked to contact the Ohio Department of Commerce’s Division of Securities at (614) 644-7381.
We will continue to follow this story.
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