Feds charge Warren man in massive financial scheme

WARREN

Kevin L. Harris of Warren, accused in civil lawsuits court of operating a Ponzi investment scheme in 2006, 2007 and 2008, is now charged in federal court with wire fraud and money laundering.

U.S. Attorney Steven M. Dettelbach of the Northern District of Ohio said Harris, 45, and others facilitated the scheme through the Parkman Road, Warren, company Complete Developments LLC, and another company by attracting $20 million worth of investments that were purportedly being re-invested in start-up companies, inventions and foreign currency.

The charges relate to the same scheme his investors, most of them from Toronto, Ontario, Canada, spoke of in their lawsuits. The crimes carry penalties of more than 30 years in prison upon a conviction.

On Thursday, Harris waived prosecution by indictment and agreed to prosecution by information, which usually means the defendant has agreed to plead guilty to the charges.

No hearings have been scheduled yet in the case, but federal Judge Lesley Wells in Cleveland and Magistrate George J. Libert in Youngstown have been assigned.

Complete Developments and Investments International Inc. promised investors a return of 7 percent to 12 percent per month on their money and said at least 80 percent of the money was safe from loss, Harris’ charges say.

In reality, the investments were being used to pay Harris and his employees, finance the costs of the businesses, obtain automobiles, and travel to Canada, Mexico, Panama and the United Arab Emirates, Dettelbach said.

Read more in Saturday’s Vindicator and Vindy.com