Garry Savage, Sr., the man accused of defrauding investors in the failed Chill Can project, pleaded guilty to 23 criminal charges related to the scheme. The charges include securities fraud, sales of unregistered securities, and theft, among others.
Savage, who operated Coast to Coast Chill, Inc., misappropriated funds from 18 Ohio investors who believed they were investing in a facility in Youngstown to manufacture self-chilling beverage cans. Instead, Savage diverted the money for personal use and to repay other investors.
The Ohio Department of Commerce, after an investigation, referred the case to the Ohio Attorney General’s Office, leading to Savage’s indictment in November 2021. The indictment accused him of keeping material facts hidden from investors while funneling their money into unrelated expenses.
Meanwhile, the Chill Can facility in Youngstown remains empty, and the city has been involved in a legal battle to reclaim tax incentives and funds after the plant’s failure to deliver on its promises. The city recently won the lawsuit, and efforts to auction the property continue.
Savage has been held in Erie County Jail since August 2022, and his sentencing is scheduled for December 30, 2024.’
