COPLEY, Ohio — The Ohio Department of Commerce has filed a lawsuit against Mark and Sharon Dente for allegedly acquiring millions of dollars through a Ponzi scheme that started as early as 2016, according to a lawsuit filed on July 1.
The former Copley basketball coach and his spouse have allegedly misused real estate investor funds to fund a lavish lifestyle, the lawsuit says. The money was used for things such as purchasing vacation homes, personal watercraft vehicles, college tuition payments, medical bills, and other personal expenses.
The Dente’s used seven different businesses to secure the money under the collective term as the “Dente Businesses”, according to the lawsuit.
Nearly $13 million of the money raised from the investors since 2016 was “either improperly… or paid to earlier investors”, the complaint said.
The State of Ohio calls for all of the investments the Dente’s received illegally are returned lawfully, suspend the business through a restraining order and provide necessary relief to stop the fraud, according to the lawsuit.
You can view the entire lawsuit here.
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