Cleveland area CEO, top executives indicted on corruption charges

CLEVELAND - Top executives of a Cleveland area company are facing corruption and theft charges for allegedly swindling investors out of $6 million.

InkStop Inc. CEO Dirk Kettlewell and four other top company officials were indicted by a Cuyahoga County grand jury Wednesday, on charges of engaging in a pattern of corrupt activity, theft and securities prohibitions.

Prosecutors allege that Kettlewell and the other defendants engaged in a scheme to induce new investors by fraudulently upgrading the appearance of the financial health of the company through the misuse of vendor promotional credits in 2008.

Prosecutors compared it with "Ponzi-like" behavior by paying previous investors, many of whom were close associates, with the new investments.

In addition to Kettlewell, others indicted include Dawn Callahan-Kettlewell, Vice President of Sales; Mark Race, Vice President of Real Estate and Construction and Dale Fuller, Chief Financial Officer.

Twelve investors lost $6 million when the company filed backruptcy in 2009.

InkStop, Inc. closed its doors leaving hundreds of employees without jobs.