A Naples, Florida man who faces 86 felony counts for allegedly defrauding investors in Youngstown's planned Chill Can plant remained behind bars Saturday.

Garry Savage Sr., 78, has been held in the Erie County, Ohio Jail on a $2,390,000 bond since May 13 awaiting another court hearing scheduled for June 6.

On Monday, Savage pleaded not guilty to charges outlined in an 86-count indictment alleging that he defrauded thirteen Ohioans.

Savage's attorney has asked the court to reduce bail and allow his client to remain on electronically monitored house arrest.

Savage was arrested in Collier County, Florida one month earlier and was subsequently extradited to Ohio to face prosecution.

The indictment alleges Savage sold investments to investors in Coast to Coast Chill, Inc., a Nevada corporation owned and operated by Savage, according to the Ohio Department of Commerce.

The indictment claims that investor funds were to be invested by Coast to coast Chill, Inc. in The Joseph Company International, which was to build a manufacturing chill can plant in Youngstown.

Attorney Brian Kopp, who represents the Chill-Can plant developer M.J. Joseph Development Co. of Irvine, Calif., said that at one-time licensee of Joseph company products, but has never had any involvement as an owner, manager, or any other work capacity with The Joseph Co.

"This has nothing to do with any litigation with the city and in no way affects the rights or agreements regarding the Youngstown project," Kopp stated.

The indictment alleges that investors' funds were misappropriated. The indictment followed a criminal referral by the Ohio Division of Securities, which pursue administrative actions, civil injunctive actions, and criminal referrals.

Savage was indicted on the following counts:

  • 18 counts of false representations in the sale of securities.
  • 18 counts of securities fraud.
  • 21 counts of fraudulent, deceptive, or manipulative conduct as an investment advisor
  • 4 counts of theft from a person in a protected class
  • 3 counts of grand theft

In Ohio, when the value of property or services stolen is $7,500 to $150,000, the offense is considered grand theft.

Grand theft is a felony of the fourth degree punishable by 6 to 18 months in prison and up to $5,000 in fines.

False representations may include either written or oral statements containing misrepresentations or omissions of information that are material to an investor and induce the purchase, sale, or holding of a security.

Savage's Ohio investment Adviser Representative license, along with the Ohio Investment Adviser Representative license of his firm, Advanced Strategies Agency, Inc., was revoked by the Division of Securities on Dec. 6, 2019.