Investment fraudster gets prison

HURON — A man with ties to Huron was sentenced to prison for securities fraud at the end of December. Garry N. Savage, Sr., 80, of Naples, Florida, pleaded guilty in November to six counts of securities fraud, four counts of selling unregistered securities and three counts of investment advisor fraud. All of these counts are felonies. In exchange for his plea, 54 other counts were dismissed, according to records from Erie County Common Pleas Court. The 13 counts Savage pleaded guilty to represent 11 victims who were reportedly swindled out of a combined $1.1 million. Savage was ordered to pay that amount in restitution. He was originally accused of pilfering more than $2 million from investors. On four of the counts, he received one-year prison sentences. On the remaining nine counts, he received three-year prison sentences. Judge Thomas Pokorny, a visiting judge presiding over this case, ordered that all sentences run concurrently for a total of three years in prison. He also ordered Savage to receive 936 days, or about 2.5 years, of credit for time spent in jail prior to sentencing. With a three-year total prison sentence and his jail time credit, Savage only needs to spend another 160 days, or less than six months, behind bars. Savage was accused of selling investments into a company that would produce a new type of beverage can that self-chilled. In determining sentencing, the court took several factors into consideration including: • The victims suffered serious economic harm as a result of these offenses. • Savage held a position of trust and the offense related to that position. • Savage's occupation or profession obliged him to prevent the offense from occurring. • Savage is 80 years of age. • He has no prior juvenile or adult record • The offenses committed by Savage are not likely to recur as he no longer has a license to sell securities or to provide investment advice concerning the sale of securities or investments in the state of Ohio. Savage will be subject to between 18 months and three years of post-release probation.