COLUMBUS, Ohio (Legal Newsline) - Two Ohio residents will shut down their charity after they allegedly used it to solicit money for an international pyramid scheme, according to an announcement by state Attorney General Mike DeWine on Thursday.
Albert Rosebrock and Nancy Jo Frazer will shut down Defining Vision Ministries, Inc., which was previously known as Focus Up Ministries.
Rosebrock and Frazer allegedly solicited investments to give to Profitable Sunrise, which marketed itself as a Christian company that would use investments to help charities while promising large returns to investors. Federal and international authorities alleged Profitable Sunrise was running a pyramid scheme and shut it down
As part of the settlement, Rosebrock and Frazer must also turn over all earning from their charity to the Attorney General’s Office, which will be used for other charities. They also are prohibited from selling securities in Ohio.
“The Ohio Attorney General’s Office is charged with ensuring that charitable funds are used as intended,” DeWine said. “We believe this is a fair resolution to a case that underscores the importance of researching charities and being skeptical of claims that are too good to be true.”
If either Frazer or Rosebrock violates the terms of the settlement, they will have to pay $710,000 in fines.