Garry Savage, Sr. of Huron, Ohio, and his Nevada-based company, Coast to Coast Chill, were sentenced on Monday after pleading guilty earlier this year to multiple counts of securities fraud and theft.
According to the Ohio Department of Commerce Division of Securities, Savage was sentenced to more than three years of incarceration and 18 months of parole. Savage has been held since his arrest in August 2022 and was given credit for time served. He was also ordered to pay $2,909,350 in restitution to company investors.
On November 26, 2024, Savage pleaded guilty, individually and on behalf of his company, to 23 counts related to an investment scheme that saw Savage pay himself and repay other investors with inappropriately diverted funds.
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Coast to Coast Chill was supposed to invest the funds into The Joseph Company International to build a manufacturing plant in Youngstown, Ohio, to make self-chilling beverage cans. According to the indictment, Savage misappropriated some of the funds.
The November 2021 indictment says Savage sold investments to 18 Ohio investors in Coast to Coast Chill. He was indicted on 86 felony counts, including securities fraud, grand theft and aggravated theft. Savage was extradited from Florida in May 2022.
According to WKBN, Savage’s Chill Can plant hoped to establish a cutting-edge canning operation in Youngstown. The factory remains empty. The city sued the company and prevailed in winning back tax incentives and other funds awarded to the project. The site could soon be auctioned off as the foreclosure case against the company comes to a close.
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