COLUMBUS, Ohio — Federal authorities say an Ohio man accused of overseeing a $1.4 million investment-fraud scheme has pleaded guilty to money laundering and wire fraud.
Authorities say 41-year-old Edward Campbell, of Reynoldsburg, pleaded guilty Thursday in federal court in Columbus and agreed to repay over $1.4 million.
Investigators say the operator of Rosewood Consulting LLC in Baltimore, Ohio, falsely told investors he was a former Navy Seal and international businessman. Authorities say he told at least 44 investors between July 2011 and June 2013, their money would go into two programs — gold-backed, historical bonds issued by China and the exchange of currency from Bougainville, Papua New Guinea, into U.S. dollars.
Authorities say investors didn’t receive returns, and Campbell used the money for personal expenses.
A message was left for Campbell’s attorney.