State v. Rudolph

2023 Ohio 1040
CourtOhio Court of Appeals
DecidedMarch 30, 2023
Docket111732
StatusPublished
Cited by1 cases

This text of 2023 Ohio 1040 (State v. Rudolph) is published on Counsel Stack Legal Research, covering Ohio Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
State v. Rudolph, 2023 Ohio 1040 (Ohio Ct. App. 2023).

Opinion

[Cite as State v. Rudolph, 2023-Ohio-1040.]

COURT OF APPEALS OF OHIO

EIGHTH APPELLATE DISTRICT COUNTY OF CUYAHOGA

STATE OF OHIO, :

Plaintiff-Appellee, : No. 111732 v. :

JEREMY RUDOLPH, :

Defendant-Appellant. :

JOURNAL ENTRY AND OPINION

JUDGMENT: AFFIRMED RELEASED AND JOURNALIZED: March 30, 2023

Criminal Appeal from the Cuyahoga County Court of Common Pleas Case No. CR-21-661523-A

Appearances:

Michael C. O’Malley, Cuyahoga County Prosecuting Attorney, and Carl M. Felice, Assistant Prosecuting Attorney, for appellee.

Ashley Jones Law Firm, Ashley L. Jones and Leslie S. Johns, for appellant.

EILEEN A. GALLAGHER, J.:

Defendant-appellant Jeremy Rudolph appeals his sentence after he

pled guilty to two counts of grand theft. He contends that the trial court erred in sentencing him to a prison term rather than community-control sanctions. For the

reasons that follow, we affirm the trial court.

Procedural History and Factual Background

On July 21, 2021, a Cuyahoga County Grand Jury indicted Rudolph

on four counts of grand theft in violation of R.C. 2913.02(A)(3), a fourth-degree

felony. The charges involved five victims — Travis Ferris, Peter and Adrian Pruitt,

Dean Balbach and Abilene Alvarado. Rudolph initially pled not guilty to all charges.

On May 9, 2022, the parties reached a plea agreement. Rudolph

agreed to plead guilty to two amended counts1 of grand theft in violation of R.C.

2913.02(A)(3), i.e., theft by deception, and to pay a total of $211,486.67 in

restitution. In exchange for his guilty pleas, the remaining counts would be nolled.

At the change-of-plea hearing, Investigator Patrick from the Ohio

Department of Commerce Division of Securities (the “securities division”) provided

a brief overview of the facts that led to the charges against Rudolph. He explained

that the securities division received information that Rudolph was “selling

investments in a trading platform to individuals,” that the victims gave money to

Rudolph to invest in the trading platform, that Rudolph had promised the victims

that they “would get a return back on the money” and that, instead of investing the

funds, Rudolph placed the funds into his personal accounts and used them for his

personal use.

1 Count 1 was amended to include Balbach as an additional victim and Count 2 was amended to include Alvarado as an additional victim. During the plea colloquy, the trial court advised Rudolph regarding

the constitutional rights he would be waiving by pleading guilty and further advised

him that each of the counts to which he would be pleading guilty was “punishable by

a separate six to 18-month prison sentence and a fine of up to $5,000.” No objection

was made to this advisement at the change-of-plea hearing. Rudolph indicated that

he understood. The trial court also advised Rudolph that he would be ordered to

pay restitution in accordance with the plea agreement, that if he were placed on

probation, he could be ordered to pay a supervisory fee associated with his probation

and that, if he were sentenced to prison, the parole board would have the discretion

to place him on postrelease control for up to two years after he completed his prison

terms. Once again, no objection was made to the reference to a possible prison

sentence. Rudolph indicated that he understood.

Rudolph entered his guilty pleas as agreed. The trial court found that

Rudolph entered his guilty pleas knowingly, intelligently and voluntarily and

accepted his pleas. The remaining counts were nolled. The assistant prosecuting

attorney and Rudolph’s counsel both indicated that they were satisfied that the trial

court had complied with Crim.R. 11. The trial court then ordered a presentence-

investigation report (“PSI”).

The PSI2 included detailed information, provided by the securities

division, regarding its investigation of the scheme that led to the charges against

2 At the sentence hearing, Rudolph’s counsel confirmed that she had read the PSI and found it to be “complete and accurate.” Rudolph. As reported in the PSI, the investigation revealed that Rudolph, through

his sole member limited liability company, Haven Financial Enterprise, LLC

(“Haven Financial”), sold investment contracts in Haven Financial’s “trading

leverage platform” that stated that investors would receive “10 times their

investment in 37-40 banking days.” Ferris, the Pruitts, Balbach and Alvarado

provided funds to Haven Financial and/or Rudolph for investment. Instead of

investing the funds, Rudolph deposited the “investment funds” received from Ferris,

the Pruitts, Balbach and Alvarado into bank accounts under his control and used the

majority of the “invested funds” to pay personal expenses. The securities issued by

Rudolph through Haven Financial were not registered with the securities division

for sale in, or from, Ohio. Rudolph had never held a securities salesperson license

or an investment advisor representative license in Ohio.

As reported in the PSI, the investigation also revealed that Rudolph

told Ferris that he would help him obtain financing by applying for credit cards and

loans in Ferris’ name. He sent Ferris various documents explaining the trading

platform and guaranteeing him an $80,000 profit on a $100,000 investment.

Ferris took advances on his credit cards and made transfers to Haven Financial

totaling approximately $47,400 for investment in the trading platform. Ferris

stated that he never received any return on his investment and that although

Rudolph was supposed to make payments on one of the credit cards Ferris had

obtained to finance the “investments,” Rudolph stopped making payments after

making only two credit card payments. Adrian Pruitt told the securities division that Rudolph had helped the

Pruitts obtain credit cards for their business then presented an investment

opportunity, i.e., the trading platform, “promising a higher rate of return.” She

indicated that the Pruitts invested funds with Rudolph and, in exchange, Rudolph

provided a “promissory note,” providing for “75% interest” with $2,500 monthly

payments until paid. She stated that the Pruitts received several payments from

Rudolph but that Rudolph then stopped paying them and stopped responding to

them.

Balbach told the securities division that Rudolph informed him of an

investment opportunity — which he understood to be an overseas investment — that

would generate “substantial returns in a short period.” Balbach stated that in

exchange for his investment, Rudolph gave Balbach a promissory note that stated

that his “investment value” was $100,000 and “guarantee[d]” a return of $250,000.

He stated that he never received any return on his investment.

Alvarado told the securities division that, on the advice of Rudolph,

she obtained $50,000 in personal loans for investment with Rudolph through

Haven Financial. She stated that Rudolph assured her that the investment would

have a 30-45 day turnaround. Alvarado never received any payments from

Rudolph.

None of the victims received the “guaranteed” returns on their

investments with Rudolph. Only the Pruitts were repaid the funds they had invested

with Rudolph. On June 13, 2022, the trial court conducted a sentencing hearing.

The state, Alvarado, Balbach, defense counsel and Rudolph spoke at the sentencing

hearing.

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Cite This Page — Counsel Stack

Bluebook (online)
2023 Ohio 1040, Counsel Stack Legal Research, https://law.counselstack.com/opinion/state-v-rudolph-ohioctapp-2023.