Man accused of defrauding Chill Can investors pleads guilty

YOUNGSTOWN, Ohio (WKBN) – The man accused of defrauding investors in the Chill Can debacle, promising to bring a state-of-the-art canning operation to Youngstown, has pleaded guilty to 23 counts in the investment scheme.

According to the Ohio Department of Commerce, Huron Senior Garry Savage was killed Tuesday both individually and through his company, Coast to Coast Chill, Inc. pleaded guilty to seven securities fraud charges to his name; eight counts of unregistered securities sales; six counts of fraudulent or deceptive conduct by a representative of an investment advisor; and two counts of theft. All other pending counts were canceled due to objection.

Savage’s plea followed an investigation and criminal referral from the Ohio Securities Division to the Ohio Attorney General’s Office.

The scheme involved directing investor funds to pay himself and other investors, as well as hiding material facts from investors.

according to November 2021 indictmentSavage sold investments to 18 Ohio investors in Coast to Coast Chill, Inc., a Nevada corporation owned and operated by Savage. Funds will be donated to Coast to Coast Chill, Inc. It was supposed to be invested in The Joseph Company International to build a facility in Youngstown to produce self-cooling beverage cans. According to the indictment, investors’ funds were misappropriated.

The Chill Can plant in Youngstown remains vacant after a several-year court case between the City and The Joseph Company over the plant being vacant and no production coming to fruition. The city ultimately won the case and received back tax incentives and other funds given to the project.

Earlier this month, Sheriff’s sale on property postponed After city leaders failed to get an assessment of the property’s value.

The attorneys are working with the judge overseeing the foreclosure case against Chill Can and hope they will be allowed to use the valuation placed on the property by the county assessor. If the judge approves, the site can be placed back on the auction block.

Savage remains in the Erie County Jail, where he has been held since August 2022. His sentencing is scheduled for December 30, 2024.

Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

For the latest news, weather, sports and streaming video, go to WKBN.com.