Campbell ex-mayor Krinos pleads to defrauding investors, keeping employees' tax payments
A Boardman man and former public official pleaded guilty in federal court to defrauding more than 10 investors out of nearly $1.2 million between 2011 and 2014 and to related tax-law violations.
In a case investigated by the FBI and the IRS, George N. Krinos pleaded guilty Thursday to the two counts in a criminal information charging him with engaging in securities fraud and willfully failing to collect and pay taxes for his employees. He will be sentenced May 30.
Krinos was Campbell’s mayor from December 2009 to January 2011.
The 15-page information says Krinos, through Krinos Holdings, sold securities through false and deceptive practices to numerous victims in northern Ohio and used their money for personal expenses.
The information also says Krinos improperly withheld taxes, including federal income taxes and Federal Insurance Contribution Act taxes from his employees, without paying those taxes over to the Internal Revenue Service.
Read more about the case in Friday's Vindicator or on Vindy.com.