Joseph M. Roy, of Columbus, was indicted by a Franklin County Grand Jury on four felony counts for activity relating to the sale of securities in Broadcast Activity Partners, reportedly of 2903 Columbus St., Grove City. He is scheduled to be arraigned today in Franklin County Municipal Court on one count each on charges of theft, securities fraud, securities misrepresentation, and sale of unregistered securities.

Mr. Roy is alleged to have sold $10,000 of non-existent securities in Broadcast Activity Partners, a non-existent company, to an elderly Columbus woman in January, 1997. He is alleged to have promised her that she would be buying stock in an already-profitable company, but that company did not exist.

The Ohio Department of Commerce's Division of Securities conducted the investigation which lead to the arrest of Mr. Roy. Investors are reminded to be on the watch for too-good-to-be-true schemes, and report suspicious activity to the Division of Securities as early as possible.

Donna Owens, Director of the Ohio Department of Commerce, encourages Ohioans to contact call the Division of Securities Investor Protection Hotline before making an investment decision. "Prospective investors can call the hotline at 800-788-1194 to check to see if your securities salesperson and brokerage firm are licensed to sell securities in Ohio and if there are any disciplinary records against them," Director Owens said. "You can also check the hotline to learn whether a security is properly registered with the state of Ohio."

# # #

The Division of Securities promotes an honest and fair securities market where individuals and businesses can raise capital and investors can expect a fair return on their investment. Other Commerce divisions enforce regulations regarding industrial compliance, financial institutions, real estate, liquor, auctioneers, and unclaimed funds, among others. The department's Internet address is www.com.state.oh.us.