A Mercer County man has been sentenced to 5 years of probation after pleading guilty to 12 securities related felonies in Mercer County Common Pleas Court.

According to the Ohio Department of Commerce Division of Securities, 60 year old Christopher T. Wendel was also ordered to pay nearly $1.6 million in restitution. A 36 month prison term was suspended by Judge Jonathan P. Hein, contingent on Wendel successfully completing probation and fully repaying restitution.

Wendel was previously indicted in July 2024 on 96 criminal counts, with charges including securities fraud, unlicensed securities activity, misrepresentation in the sale of securities, sale of unregistered securities, theft, and telecommunications fraud. He was indicted again in November 2024 on an additional 26 counts.

According to the indictments, between 2019 and 2021, Wendel solicited 11 Ohio residents and 1 Indiana resident, including several elderly investors, to invest more than $1.5 million in his company, Buckeye Income Fund, LLC. Investigators said the investments were obtained through material misrepresentations and fraudulent conduct.

The Division of Securities also said Wendel’s activity continued despite prior regulatory action. In May 2018, Wendel entered into an agreement with the Financial Industry Regulatory Authority that resulted in a permanent bar from associating with any FINRA member firm. In August 2019, the Ohio Division of Securities issued a cease and desist order after finding Wendel was selling unregistered securities without a license.

Ohio Securities Commissioner Andrea Seidt said the sentencing sends a clear message that the Division of Securities will pursue those who defraud or exploit Ohioans. She also encouraged prospective investors to verify the credentials of anyone offering an investment before handing over money.

The Division of Securities says Ohioans with questions or concerns about investments or financial advisors can call the Investor Protection Hotline at 877-683-7841. The Division can also be contacted at 614-644-7381 or by email at securitiesgeneral.questions@com.ohio.gov.