A West Chester Twp. man faces prison time after pleading guilty to securities charges involving 18 victims, according to the Ohio Department of Commerce.
Robert “Bob” McManus, 54, 7560 Dimmick Road, pleaded guilty Nov. 20 in Butler County Common Pleas court to one count of the sale of securities without a license and one count of the sale of unregistered securities, both second-degree felonies.
Between 2010 and 2011, McManus sold promissory notes issued by North Shore Energy, LLC, an oil and gas drilling company located in Austin, Texas, to 18 investors primarily residing in southwestern Ohio, according to the department of commerce. McManus was the former host of “Safe Money America,” a radio talk show broadcast on 700WLW in the Cincinnati area. McManus has not held an active securities salesperson license in Ohio since September 2003.
McManus faces a possible prison sentence of 16 years and a maximum fine of $30,000. As part of the plea agreement, McManus agreed to pay restitution in the amount of $2,251,712.26 to the investor victims.
Butler County Common Pleas Judge Charles Pater has set sentencing for 8:30 a.m. Feb. 17.