North Side Man Accused of $600K Securities Fraud
A man from the North Side is facing some serious legal trouble after allegedly defrauding investors of over $600,000. Tom Manning, 58, is currently dealing with 26 felonies in Franklin County Common Pleas Court, where he’s accused of engaging in unlawful securities practices and theft.
According to court records, between 2019 and 2022, Manning managed to convince at least five individuals from central Ohio to invest a total of more than $640,000 into promissory notes issued by his company, Blue Logic Capital LLC. These notes were tied to various projects that Manning promised would bring returns, such as purchasing, renovating, and selling a house, developing a new oil pump, and constructing assisted living facilities.
Prosecutors claim that Manning misused the funds for personal expenses and to repay other investors. Additionally, he failed to disclose all relevant information to investors and neglected to properly register the promissory notes, as per court documents.
As of Tuesday morning, the website for Blue Logic Capital was no longer functioning. On LinkedIn, however, there is still an active overview of the company, emphasizing their focus on healthcare investments related to the aging Baby Boomer population.
Manning is facing charges in two separate cases, with a trial for one scheduled in January and an initial court appearance for the other set for December 27. Despite the serious allegations against him, Manning was granted a recognizance bond for his first case, meaning he didn’t have to pay any money to be released.
It’s an unfortunate situation, reflecting the importance of due diligence and caution when it comes to investing your hard-earned money. Stay informed and be vigilant to protect yourself and your finances from potential scams.
