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Ohio Investor Recovery Fund

If you are an innocent victim of a securities-related crime, financial assistance may be available.

Beginning August 1, 2022, Ohio victims of securities crimes and related violations can apply to receive compensation up to 25% of their loss amount or $25,000, whichever is less. Claims for recovery are eligible from administrative, civil, or criminal cases initiated by the Division for which a final order was issued after September 30, 2021.

Ohio Investor Recovery Fund Guidelines

Who may be eligible to receive money from the fund:

  • A natural person, or their surviving spouse or dependent child of a deceased victim, who is a resident of Ohio, and
  • Who has been identified in a Division final order or who is identified as a victim in a criminal or civil case initiated by the Division in which a final court order has been issued, and
  • Who has sustained a monetary loss as a result of a violation of the Ohio Securities Act.

Who may not be eligible to receive money for loss:

  • Persons who committed, attempted to commit, participated in or assisted in the violations set forth in the final order.
  • Persons who profited or would have profited from the securities violations or criminal activity set forth in the final order.
  • Claimants who knowingly filed an application for recovery that contains false, incomplete or misleading information.
  • Claimants who do not file a completed application within 180 days of the final order or who do not provide additional information to the Division within 60 days of request, without an extension granted by the Division.

The Division shall not award restitution assistance as follows:

  • To more than one claimant per victim.
  • To a claimant on behalf of a victim who previously received the full amount of restitution owed from the person ordered to pay restitution before the application for restitution assistance from the fund is filed.
  • To a claimant on behalf of a victim who assisted in the commission of the violation of the Ohio Securities Act.
  • If the portion of the final order giving rise to a restitution order or otherwise establishing a monetary loss to the victim is overturned on appeal.

Other limitations:

  • If, after the Division has made a restitution assistance award from the Ohio Investor Recovery Fund under this section, the restitution award in the final order is overturned on appeal and all legal remedies have been exhausted, then the claimant shall forfeit the restitution assistance award.
  • If the fund falls below $250,000, awards will be suspended and paid out on a prorated basis at the end of the suspension period.
  • The maximum award from the Ohio Investor Recovery Fund for each claimant shall be the lesser of $25,000 or 25% of the amount of monetary injury suffered by the victim as specified in the final order.
  • The state is subrogated to the rights of the person awarded restitution assistance to the extent of the award. The subrogation rights are against the person who committed the securities violation or a person liable for the monetary loss.
  • The state may obtain a lien on the restitution assistance award in a separation action brought by the state or through state intervention in an action brought by or on behalf of the victim.

Refer to Section 1707.47 and Section 1707.471 - Ohio Revised Code | Section 1301:6-3-471 Ohio Administrative Code for the full statutes and rules.

Two options for filing a claim

If you have any questions or need assistance completing the required application form and other materials, contact the Division of Securities:

The office is open Monday through Friday 8 a.m. to 5 p.m.