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Summit County


Ohio man who fled to Peru to avoid charges is ordered held until trial
Eric Bartoli was indicted in 2003 on 10 counts in an alleged $65 million Ponzi scheme
by WKSU's KABIR BHATIA


Reporter
Kabir Bhatia
 
Bartoli, who disappeared from Northeast Ohio a decade ago, will remained jailed until his trial.
Courtesy of FBI
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An Ohio man who authorities say fled to Peru to avoid facing charges in a $65 million Ponzi scheme will stay behind bars until his trial. WKSU's Kabir Bhatia reports.
LISTEN: Bartoli will be held until his trial ends

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The judge ordered Eric Bartoli held until the case is complete, and his next scheduled appearance is Jan. 22. Cleveland.com reports that the 61-year-old sat quietly during the hearing after pleading not guilty.

Bartoli was indicted in 2003 on 10 counts including securities fraud, wire fraud, mail fraud and money laundering. The charges are related to his Wayne-County-based company, Cyprus Funds.
Authorities say he collected money from 800 investors in the U.S. and Latin America throughout the '90s, then failed to appear at an SEC hearing in 1999 before fleeing to Peru. He allegedly worked as an investment adviser and blogger while there.

U.S. authorities requested extradition in 2011; he was arrested by Peruvian police in 2013 and was returned to Ohio this week. Two men who ran Cyprus Funds with Bartoli signed consent decrees and served less than three years each.
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