Huron Man Pleads Guilty in Chill-Can Investment Scheme
Garry Savage Sr., a resident of Huron, recently pleaded guilty to 23 criminal charges stemming from an investment scheme related to the failed Chill-Can plant near downtown Youngstown. The Ohio Department of Commerce Division of Securities shared that Savage entered a guilty plea for himself and his company, Coast to Coast Chill Inc., following an investigation and referral from the Ohio Division of Securities to the Ohio Attorney General’s Office.
The scheme involved misappropriation of investor funds to pay himself, repay other investors, and withholding important information from investors. According to a November 2021 indictment, Savage sold investments to 18 Ohio investors in Coast to Coast Chill, Inc., a Nevada corporation that he owned. These funds were meant to be used for investing in the Joseph Company International to construct a facility in Youngstown for manufacturing self-chilling beverage cans, but they were misused.
Ohio Securities Commissioner Andrea Seidt emphasized the importance of securities laws in protecting investors from fraudulent activities. Savage pleaded guilty to multiple charges including securities fraud, sales of unregistered securities, fraudulent conduct, and theft. All other pending charges were dismissed due to the guilty plea.
Currently held in Erie County Jail since August 2022, Savage awaits sentencing scheduled for December 30, as per the Ohio Department of Commerce.
In other related news, the former Chill-Can plant site in Youngstown faced a setback during a recently scheduled sheriff’s sale, as it was canceled due to challenges in appraising the property’s value. The city plans to file a motion to utilize the Mahoning County auditor’s appraised value for a future sale, considering the multiple parcels owned by the city and individuals associated with the project, like Scott Berger.
While the city aims to purchase the property for future development, legal proceedings are ongoing following a ruling favoring Youngstown and other stakeholders involved in the foreclosure case against M.J. Joseph, the parent company of Chill-Can. The unresolved property taxes and outstanding debts linked to the project add complexity to the situation, with a lengthy process expected before any potential sale.
The Chill-Can project, once seen as a hopeful economic initiative, remains unfulfilled, reflecting the challenges encountered in executing large-scale ventures. Stay tuned for further updates on the development of this story.
