Huron Man Pleads Guilty to 23 Counts Related to Investment Fraud

COLUMBUS, Ohio - The Ohio Department of Commerce Division of Securities announces that Garry Savage, Sr. of Huron, Ohio, pleaded guilty on Tuesday, Nov. 26 to 23 criminal counts related to an investment scheme for which he was previously indicted. Savage pleaded guilty both individually and on behalf of his company, Coast to Coast Chill, Inc. His plea follows an investigation and criminal referral from the Ohio Division of Securities to the Ohio Attorney General's Office.

The scheme involved diverting investor funds to pay himself and to repay other investors, as well as to omit material facts from investors. According to the November 2021 indictment, for which Savage was extradited from Florida in May 2022, Savage sold investments to 18 Ohio investors in Coast to Coast Chill, Inc., a Nevada corporation owned and operated by Savage. The funds were supposed to be invested by Coast to Coast Chill, Inc., into The Joseph Company International to build a facility in Youngstown, Ohio to manufacture self-chilling beverage cans. According to the indictment, investors' funds were misappropriated.

"Securities laws exist to protect investors from the serious harm caused by fraud and deceit," said Ohio Securities Commissioner Andrea Seidt. "Fraudulent schemes such as this will never be tolerated. The Ohio Division of Securities will continue to work diligently to ensure victims have the opportunity to seek justice and restitution."

Savage pled guilty to seven counts of securities fraud; eight counts of sales of unregistered securities; six counts of fraudulent or deceptive conduct by an investment adviser representative; and two counts of theft. All other pending counts were nullified because of the plea.

Savage remains in the Erie County Jail, where he has been held since August 2022. His sentencing is scheduled to take place at 10:30 a.m. on Monday, Dec. 30, 2024.

###

About the Division of Securities
The Division of Securities is part of the Ohio Department of Commerce. The department is Ohio's chief regulatory agency, focused on promoting prosperity and protecting what matters most to Ohioans. We ensure businesses follow the laws that help them create jobs and keep Ohioans safe. To learn more about what we do, visit our website at com.ohio.gov.