Cincinnati Man Gets 40 Years in Securities Fraud Scam

A Cincinnati man who conned Indiana investors out of more than $3 million has received a 40-year prison sentence for his role in a securities fraud scam.

According to the Indiana Secretary of State’s Office, Jasen M. Snelling sold unregistered securities under the company names of CityFund Advisory and Dunhill Investments. Snelling was not registered to sell securities nor did he register the securities that he sold as required by Indiana law.

Snelling’s co-defendant, Jerry A. Smith of Brookville, Indiana, also has been charged in Dearborn and Franklin Counties and is awaiting trial.

As reported Nov. 13 by the Indianapolis Star, Snelling already is serving 10 years in federal prison under a plea deal he signed with the U.S. Attorney’s Office in the Southern District of Ohio. He received six years in prison after pleading guilty to securities fraud in Dearborn County.