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Columbus Man Accused Of Running Financial Scheme

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Ken Teegardin
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Flickr Creative Commons

Federal prosecutors say a Columbus businessman has been indicted on charges including wire fraud and money laundering. 

David DeMathews, 62, faces several charges related to what prosecutors call a financial fraud scheme.

The indictment says DeMathews told investors that he would put their money into Starbucks franchises, hospitals, water plants, and other investments that would eventually generate money.

Prosecutors say none of those business ventures ever became a reality and DeMathews kept about $900,000 for himself.  

Prosecutors say DeMathews has a felony record and added a charge for illegal possession of a firearm.

He’s scheduled to be arraigned in two weeks.