Westhaven Group defendants released on bond after entering not guilty pleas

5/6/2008

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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