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CLEVELAND, Ohio — Four men were found guilty by a jury Friday for concocting a scheme worth more than $10 million to sell unregistered securities and lie to investors about a medical device they claimed they were developing.
Kenneth Jackson, 59, of Glenmont; William Schureck, 81, of Lexington; Dennis Deciancio, 73, of Macedonia, and Daryl Dane Donohue, 67, of Mansfield, were convicted on various charges, including conspiracy, mail fraud, wire fraud, securities fraud, money laundering and making false statements.
The four were affiliated with a research and development company named Medical Safety Solutions that purported to make a medical device. However, the device was never made, and investors lost millions.
U.S. District Judge Patricia Gaughan will sentence the quartet on Sept. 1. All of them are free from jail on bond.
The four men were indicted in July following investigations by the FBI and the Internal Revenue Service. The jury deliberated for nearly two days, following a trial that lasted for more than three weeks.
