FORMER DUBLIN FINANCIAL ADVISOR INDICTED FOR THEFT EXCEEDING $500,000 FROM 81 YEAR OLD UPPER ARLINGTON CLIENT
Posted on 8/15/2016
Defendant: Jon Bret Schmidhammer
Franklin County Prosecutor Ron O’Brien said, “This was an entrusted financial advisor who abused his position for his own personal gain by stealing over a half million dollars from an unsuspecting 81 year old woman.” Prosecutor Ron O’Brien announced today that the Franklin County Grand Jury has returned an indictment against Jon Bret Schmidhammer, age 62 for one count (F-1) Theft from a Person in a Protected Class, and one count Unlawful Securities Practices (F-1), for a total of two counts. Schmidhammer was formerly employed as the victim’s financial advisor. “It is alleged that between January 21, 2014 and July 29, 2016 Schmidhammer would transfer money from the victim’s investment accounts to her PNC bank account, and would then write checks to himself or to pay his personal bills”, O’Brien stated. The Upper Arlington Police and PNC bank employees met with the victim after they suspected suspicious bank activity involving her account. “The fraudulent activity to her account was in excess of $500,000”, O’Brien further stated. O’Brien commended the Upper Arlington Police Department for their thorough and rapid investigation of this case. Arraignment for Schmidhammer is set for Friday, August 26th at 1:30 pm in courtoom 2B at 345 S. High Street in downtown Columbus.