By Beverly Keller
Local Edition Editor
Last week, Monroe Beachy appeared in the United States District Court’s Northeastern District of Ohio’s Eastern Division to answer to the charge of fraud. It is a charge that stems from Beachy’s operation of A &?M Investments in Sugarcreek until June 2010.
Despite the counsel of his court-appointed attorney, J. Gerald Ingram, Beachy wished to proceed by entering a plea of no contest to the charge. However, Beachy declined to enter a plea to the charge at all. Therefore Judge Benita Y. Pearson entered a plea of not guilty on Beachy’s behalf.
As a result, the case was filed and updated. The criminal trial is set to begin on Tuesday, January 3, 2012 at 9 a.m. in Courtroom 351 of the Federal Building - United States Courthouse located at 125 Market Street in Youngtown. Any plea negotiations must be done prior to that time and must be filed by December 15, 2011. A pretrial conference will be held on December 29 at noon in Courtroom 351.
After the court date was set, Beachy posted an unsecured bond of $50,000 and was released. It was noted that standard conditions of release apply and Beachy is not to possess a firearm or travel outside the Northern District of Ohio. He must also comply with supervision.?Beachy was also prohibited from contacting any persons who are or may be a victim or witness in the case.
Linda Barr has been assigned to represent the United States Attorney office in the case.
It should be noted that this criminal case involving mail fraud stems from Beachy’s involvement as the single proprietor of A &?M?Investments and has no bearing on Beachy’s current bankruptcy case in the Northern District Bankruptcy Court.
In that case, Anne Piero Silagy filed an update last week that included finding that more than 100 people who invested with Beachy incorrectly filled out paperwork concerning their claim on the estate. They mistakenly checked the box noting they had a secured claim in the business. However, no investor had a secured claim. Those involved were notified of their error via regular mail last week. The paperwork indicates that those claims will be reclassified as unsecured.
In an asset report related to the case, Silagy noted that two complaints for turnover were filed with the Amish Helping Fund for monies Beachy had on deposit with the group. The balance of the first account was $179,511.81. The balance of the second fund was $448,866.32.
All loan payments received to date from outstanding personal loans are also noted in the 22 page document. Also outlines are the proceeds of all investment funds, stocks, bonds and other assets that were liquidated by the trustee. The current value of the account is $16,483.785.57.
Costs to date were also included in the report. To date, $237,154.97 has been spent as related to the case ranging from the cost of the 341 Meeting of Creditors held at the Carlisle Inn last August to security needed for the meeting as well as the cost of gathering claims information and staying in touch with investors.
The sale of land owned by Beachy in Holmes County has been approved by the court. No date has been set as of press time.
tion Editor
Last week, Monroe Beachy appeared in the United States District Court’s Northeastern District of Ohio’s Eastern Division to answer to the charge of fraud. It is a charge that stems from Beachy’s operation of A &?M Investments in Sugarcreek until June 2010.
Despite the counsel of his court-appointed attorney, J. Gerald Ingram, Beachy wished to proceed by entering a plea of no contest to the charge. However, Beachy declined to enter a plea to the charge at all. Therefore Judge Benita Y. Pearson entered a plea of not guilty on Beachy’s behalf.
As a result, the case was filed and updated. The criminal trial is set to begin on Tuesday, January 3, 2012 at 9 a.m. in Courtroom 351 of the Federal Building - United States Courthouse located at 125 Market Street in Youngtown. Any plea negotiations must be done prior to that time and must be filed by December 15, 2011. A pretrial conference will be held on December 29 at noon in Courtroom 351.
After the court date was set, Beachy posted an unsecured bond of $50,000 and was released. It was noted that standard conditions of release apply and Beachy is not to possess a firearm or travel outside the Northern District of Ohio. He must also comply with supervision.?Beachy was also prohibited from contacting any persons who are or may be a victim or witness in the case.
Linda Barr has been assigned to represent the United States Attorney office in the case.
It should be noted that this criminal case involving mail fraud stems from Beachy’s involvement as the single proprietor of A &?M?Investments and has no bearing on Beachy’s current bankruptcy case in the Northern District Bankruptcy Court.
In that case, Anne Piero Silagy filed an update last week that included finding that more than 100 people who invested with Beachy incorrectly filled out paperwork concerning their claim on the estate. They mistakenly checked the box noting they had a secured claim in the business. However, no investor had a secured claim. Those involved were notified of their error via regular mail last week. The paperwork indicates that those claims will be reclassified as unsecured.
In an asset report related to the case, Silagy noted that two complaints for turnover were filed with the Amish Helping Fund for monies Beachy had on deposit with the group. The balance of the first account was $179,511.81. The balance of the second fund was $448,866.32.
All loan payments received to date from outstanding personal loans are also noted in the 22 page document. Also outlines are the proceeds of all investment funds, stocks, bonds and other assets that were liquidated by the trustee. The current value of the account is $16,483.785.57.
Costs to date were also included in the report. To date, $237,154.97 has been spent as related to the case ranging from the cost of the 341 Meeting of Creditors held at the Carlisle Inn last August to security needed for the meeting as well as the cost of gathering claims information and staying in touch with investors.
The sale of land owned by Beachy in Holmes County has been approved by the court. No date has been set as of press time.
