Created on Wednesday, 21 May 2014 Written by AP
Ohio businessmen accused in investment scheme
COLUMBUS, Ohio (AP) — Two Ohio businessmen are accused of defrauding their company's investors and diverting their money for personal use.
A federal grand jury has indicted Preston Harrison, of Lewis Center, and Thomas Jackson, of Powell, on counts that include wire fraud and money laundering. Harrison's wife also faces federal charges.
U.S. Attorney Carter Stewart announced the indictment Tuesday.
Jackson's attorney says he plans to plead not guilty. Messages were left with the Harrisons' attorneys after hours.
Federal authorities say the men engaged in a scheme to deceive investors in their Westerville company about the sports drink OXYwater. The men operated Imperial Integrated Health Research and Development LLC, which developed the beverage.
Authorities claim as a result of the defendants' alleged conduct between August 2010 and spring 2013, investors lost approximately $9 million.
Harrison is a former Ohio State University football player.