Investment adviser to be sentenced in Ohio scandal
AKRON, Ohio — An investment adviser will learn his sentence for fraud charges related to $216 million in hedge fund losses at Ohio’s agency for injured workers.
A federal judge in Akron on Thursday will sentence Mark Lay, chief executive and founder of the now defunct MDL Capital Management of Pittsburgh.
Lay faces a maximum sentence of 20 years in prison, but is expected to receive less under federal sentencing guidelines.
The Ohio Bureau of Workers’ Compensation was the sole investor in a high-risk hedge fund Lay set up in Bermuda.
Lay was convicted of failing to tell bureau officials when questioned beginning in 2004 about the extent of the risk he was taking.
Lay’s defense attorneys argue that he was a scapegoat for a legitimate investment loss that wasn’t a crime.
Ohio extends unemployment benefits by 13 weeks
COLUMBUS, Ohio (AP) — Ohio is extending unemployment benefits an additional 13 weeks.
The Ohio Department of Job and Family Services said Wednesday about 280,000 people are eligible for exte
Federal study of water park inconclusive
MASON, Ohio (AP) — Federal health officials say they can’t say for sure what made some visitors sick after they visited an indoor water park last year.
The National Institute for Occupational
EPA: Salad dressing runoff floods Ohio homes
COLUMBUS, Ohio (AP) — An Ohio EPA official says creamy ranch dressing mixed with sewage and storm runoff in the flooded basements of at least 10 Columbus homes.
Sewage from T. Marzetti Co.,
Group chides Ohio for link to sweatshop factories
COLUMBUS, Ohio (AP) _ An anti-sweatshop group wants Ohio to pressure two companies it does business with to improve what it says are abusive working conditions in factories abroad.
Swea
Crash closes eastbound lanes of Interstate 70
REYNOLDSBURG, Ohio (AP) _ The Ohio State Highway Patrol says two people are dead in a crash that closed eastbound lanes of Interstate 70 east of Reynoldsburg.
Emergency crews on Tuesday
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