May 29, 2026, Press Release from Ohio Division of Securities:
CELINA, Ohio –The Ohio Department of Commerce Division of Securities announces that Christopher T. Wendel, 60, a resident of Mercer County, Ohio, pled guilty today in the Mercer County Court of Common Pleas to 12 securities related felonies. He was sentenced to five years of probation and ordered to pay nearly $1.6 million in restitution. A 36‑month prison term was suspended by Judge Jonathan P. Hein, contingent upon Wendel’s successful completion of probation and full repayment of restitution.
Wendel was indicted in July 2024 on 96 criminal counts alleging he defrauded Ohioans of more than $1 million. The charges ranged from fifth- to first-degree felonies and included securities fraud, unlicensed securities activity, misrepresentation in the sale of securities, the sale of unregistered securities, theft, and telecommunications fraud. He was indicted again in November 2024 on an additional 26 counts.
According to the indictments, between 2019 and 2021, Wendel solicited eleven Ohio residents and one Indiana resident—including several elderly investors—to invest more than $1.5 million in his company, Buckeye Income Fund, LLC, through material misrepresentations and fraudulent conduct.
Wendel’s activity continued despite prior regulatory actions. In May 2018, he entered into an Acceptance, Waiver, and Consent agreement with the Financial Industry Regulatory Authority (FINRA), resulting in a permanent bar from associating with any FINRA member firm after investigators determined he engaged in unauthorized private transactions and provided false information during FINRA’s inquiry.
In August 2019, the Ohio Division of Securities issued a cease-and-desist order (Order No. 19‑018) after finding that Wendel was selling unregistered securities without a license. He continued operating in violation of that order until his arrest in July 2024.
Wendel remained incarcerated as the case was prosecuted.
Ohio Securities Commissioner Andrea Seidt
“This sentencing sends a clear message that the Division of Securities will not hesitate to pursue those who defraud or exploit Ohioans.We urge every prospective investor to take simple but critical steps to protect themselves and their finances, such as verifying the credentials of anyone offering an investment and contacting us immediately if something doesn’t seem right.”
Before finalizing any investments, the Division of Securities encourages potential investors to call the Division’s Investor Protection Hotline at 877-683-7841 to ask:
- Is the securities professional, platform or firm properly licensed to do business in Ohio?
- Is the security being promoted by the firm, platform or the professional registered for sale in Ohio?
- Are there any enforcement actions involving the firm, professional, platform, or securities product being promoted?
Ohioans with any questions or concerns about investments or financial advisors should contact the Division of Securities at 614-644-7381, securitiesgeneral.questions@com.ohio.gov, or by completing its online contact form here.
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About the Division of Securities
The Division of Securities is part of the Ohio Department of Commerce. The department is Ohio’s chief regulatory agency, focused on promoting prosperity and protecting what matters most to Ohioans. We ensure businesses follow the laws that help them create jobs and keep Ohioans safe. To learn more about what we do, visit our website at com.ohio.gov.
Mercer County Outlook 