Ohio Advisor Boecker Accused of $1.3M Florida Scam

CUYAHOGA FALLS, OH – A seemingly respectable financial advisor is now facing federal charges after allegedly fleecing victims out of nearly $1.3 million to fund a dubious “water therapy hotel” in Florida. Gary J. Boecker, 63, of Cuyahoga Falls, Ohio, was indicted this week on charges of wire fraud and making false statements in a loan application, according to Acting U.S. Attorney David A. Sierleja.

The indictment paints a picture of a calculated scheme. Boecker, who also practiced law, allegedly pitched the “Ocean Jade Health Retreat” – a supposed luxury hotel focused on water therapy – to investors, promising a hefty 15 percent annual return. The problem? Prosecutors say Boecker lied about owning the hotel and the existence of other investors, all to line his own pockets and keep the failing Florida venture afloat. This wasn’t just bad business; it was outright deception.

One victim, a close personal friend identified as “Victim 1,” was conned into investing $300,000 based on Boecker’s false claims. But the betrayal didn’t stop there. The indictment alleges Boecker also authorized $426,900 in unauthorized withdrawals from the victim’s account between 2014 and 2015. A friendship exploited for financial gain – a common thread in these cases.

The scope of Boecker’s alleged fraud extends beyond his personal friend. For over a decade, Boecker worked at “Victim 2’s” company, eventually rising to the position of Chief Financial Officer. Between 2014 and 2016, he allegedly siphoned off $536,300 from the company, diverting the funds to his personal use and, again, to prop up the Ocean Jade project. Adding insult to injury, Boecker also racked up $24,274 in personal expenses – including airfare and rental cars in Fort Lauderdale – using the company’s credit card, all tied to his Florida scheme.

Boecker now faces the music. If convicted on the charges of wire fraud and making false statements, his sentence will be determined by the court, taking into account his criminal history (if any), his role in the offense, and the specifics of the violations. While the maximum sentence is yet to be determined, the government assures the public that it will seek justice.

This investigation was a joint effort by the FBI and the U.S. Department of Labor, with Assistant U.S. Attorney Linda H. Barr leading the prosecution. It’s crucial to remember that an indictment is merely an accusation. Boecker is presumed innocent until proven guilty beyond a reasonable doubt in a court of law. But the evidence presented thus far suggests a deliberate and damaging pattern of deceit.