Three former executives of the defunct Westhaven Group were arraigned Tuesday in Lucas County Common Pleas Court on racketeering and security fraud charges.
Scot Ulmer, son of the investment firm s founder John Ulmer; Anthony Garzony, a former president of the company, and Roger Morr, who was an investment manager, pleaded not guilty to charges that were handed up in an 81-count indictment.
Judge Stacy Cook released Mr. Garzony and Morr on supervised recognizance bonds and Ulmer was given a release on a $110,000 property bond.
The elder Ulmer was arraigned April 18.
The Ohio Department of Commerce shut down Westhaven for failing to properly match its investors money with houses as collateral.
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