MASON, OH (FOX19) - Ohio State Rep. Peter Beck (R-Mason) entered a not guilty plea on Friday after being indicted on 16 felony charges last week.
Hamilton County Prosecutor Joe Deters and Ohio Attorney General Mike DeWine previously announced Beck and a certified public accountant, John Fussner, have been indicted in connection with their activities involving Ohio software company Christopher Technologies, LLC or CTech.
The indictments follow a referral from the Ohio Dept. of Commerce Division of Securities.
Beck is free on a $50,000 bond after turning himself in to authorities on Thursday.
Beck was indicted on 16 counts, including two counts of misrepresentation in the sale of a security, two counts of unlicensed sale of securities, two counts of fraud in the sale of securities, two counts of sale of unregistered securities, two counts of selling securities in an insolvent company without full disclosures, two counts of making a false statement about the financial condition of an issuer and four counts of theft by deception.
Beck faces a possible maximum sentence of 102 years in prison if convicted of all charges.
Fussner was indicted on several counts and faces a maximum sentence of 43 years in prison if convicted of all charges.
Fussner was the president and Beck was the CFO of CTech. Victims lost approximately $200,000.
"John Fussner and Peter Beck knew CTech was insolvent and yet they did not disclose this to investors. They knew the truth, and yet deceived investors to get their capital to keep the company afloat and use the money for other purposes," said DeWine.
FOX19 did an investigation into the allegations against Beck in January of this year. Read our report here.
An arraignment for Beck is scheduled for Friday morning.