CINCINNATI — A Cincinnati man is facing multiple federal charges after he allegedly defrauded investors out of millions of dollars.
According to a press release from the Southern District of Ohio Attorney's Office, 41-year-old Benjamin Cantey has been charged with four counts of wire fraud and two counts of engaging in monetary transactions in property derived from specified unlawful activity.
The release says in 2019 Cantey started a business, Carbon IQ, which did business under the name Rumby. Cantey claimed Rumby was a venture-backed startup providing an e-commerce platform for the pickup and delivery of laundry and dry cleaning, according to the release.
From 2020 through 2022, Cantey took money from investors while lying to them about his business experience and prior business success, the release says.
He also allegedly lied about Rumby's revenue, bank balances, profit margins and growth; federal officials say Cantey told investors Rumby ended May 2022 with a bank balance of $1.5 million, when it was actually a negative balance of -$53,000.
Federal officials also say Cantey spent $850,000 of investor's money to help buy a 5,000 square-foot, $1.7 million home on Garden Place in Hyde Park.
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