Youngstown woman charged with misleading investors

Andrea Trgovich, of Youngstown is charged with securities and bank fraud

Legal Generic

CLEVELAND, Ohio (WKBN) – A Youngstown woman is facing security and bank fraud charges after she was indicted by a federal grand jury on Wednesday.

The indictment says Andrea Trgovich established a company, Wellness Integrated Network, LLC, which was intended to develop and market a mobile and web-based software application that would enable users to manage diet, weight and physical activities.

If the software was developed, it would incorporate recipes, menus, shopping lists, exercise tracking and fitness routines.

Trgovich marketed the software to businesses and corporations with employee wellness plans, according to the indictment. In September 2008, she joined a business incubator group and secured investors.

The indictment says Trgovich then hired Betrand Gray, of Cleveland, as chief financial officer at a salary of $1 per year. The indictment says Gray then marketed the software, falsely claiming that WIN had a letter of intent from a company that wished to purchase it.

The indictment says Gray was later terminated and was only involved in fundraising for WIN during 2012, during which time he made several misleading statements.

Trgovich continued to raise more than $578,000 from investors, using the money for personal expenses, and she failed to develop a product, the indictment says.

Gray and Trgovich are charged with security fraud, and Trgovich is additionally charged with six counts of bank fraud.

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