HOLLAND, OHIO – A gritty federal crime has taken center stage as Mark O. Wittenmyer, 54, of Holland, Ohio, finds himself in the hot seat after being indicted for a $500,000 wire fraud scheme.
The grimy details of the case reveal that Wittenmyer duped a group of investors by falsely claiming his ability to deliver interest-only government bonds. He promised them not just the bonds but also institutional buyers who would pay handsomely at the deal’s close. However, this tale of financial betrayal quickly unraveled when the investor group discovered the non-existent bonds.
According to the grim indictment, Wittenmyer threatened to file a lien on the nonexistent bonds to halt their sale. The duped investors, desperate to save their investment, coughed up $500,000 in a wire transfer to prevent this. But Wittenmyer was no angel; he funneled the funds through an account at PNC Bank, controlled by an associate, and spent them as they saw fit.
This case has been a joint effort between the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation Division. Assistant United States Attorneys James V. Moroney and Gene Crawford are now prosecuting this sordid tale of greed and deceit.
Wittenmyer’s fate rests in the hands of the court, which will consider unique factors before determining his sentence. While an indictment is not proof of guilt, it remains a stark reminder that justice is on its way for this white-collar criminal.
In all cases, sentences are capped by statutory maximums, but Wittenmyer’s case is one where justice can be served with a stiffer penalty than most.
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Key Facts
- State: Ohio
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption
- Source: Official Source ↗
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