CINCINNATI — The former owner of a bank that collapsed and set off the Ohio banking crisis last March was indicted Friday on 50 counts of theft by deception, securities violations and willful misapplication of funds.
Marvin Warner was indicted on one count of theft by deception, four counts of securities violations and 45 counts of willful misapplication of funds.
The special state grand jury was impaneled by Ohio Atty. Gen. Anthony Celebrezze on Sept. 3 to investigate the March collapse of the Home State Savings Bank and the subsequent run that forced Gov. Richard F. Celeste to close temporarily 70 state-chartered savings and loan institutions.
Home State lost $145 million in the bankruptcy of ESM Government Securities Inc. of Fort Lauderdale, Fla., whose operations are under scrutiny by state and federal investigators.