The state of Ohio is suing the former Copley basketball coach and his wife, saying they created a Ponzi scheme that bilked investors out of millions of dollars.
The state also is asking the court to appoint a receiver to oversee the couple’s business entities.
The civil suit was filed against Mark and Sharon Dente and their various businesses that operated out of their Copley home and an office off West Market Street in Fairlawn.
The suit, filed in Summit County Court of Common Pleas by Ohio Attorney General Dave Yost, alleges the Dentes and their businesses made false representations to investors and knowingly engaged in fraudulent practices.
Foul play? Former Copley coach Mark Dente accused of defaulting on $53.1 million in loans
The lawsuit shows that the Ohio Division of Securities has been investigating the various Dente businesses.
Fraudulent scheme alleged
The suit says the state is seeking to stop what it calls a “fraudulent scheme” that raised millions of dollars from investors through the sale of promissory notes and other means tied to real estate investments. The suit said Mark Dente used investor money “as his own personal slush fund” and commingled investor money with personal accounts.
The Beacon Journal on Friday could not find an attorney representing Mark Dente and the businesses to comment on the state lawsuit. A phone call to Dente-owned AEM Services in Fairlawn went unanswered.
Dente created what basically was a national house-flipping business…
