- Associated Press - Thursday, August 20, 2015

HAMILTON, Ohio (AP) - A retired western Ohio dentist faces up to 24 years in prison for using $125,000 obtained from investors to gamble and pay off personal credit card debt.

Russell Bowermaster pleaded guilty Wednesday to four counts of theft, three counts of securities fraud and three counts of misrepresentations in the sale of securities.

Prosecutors say the 78-year-old Dublin resident got four people to invest in Biodontos, LLC in 2010 to develop technology related to the storage and use of stem cells. Instead, Bowermaster used the money at casinos and to cover other personal expenses.

Butler County Prosecutor Michael Gmoser says Bowermaster’s charges will be reduced if he is able to pay back the $125,000 by his Oct. 29 sentencing date.

Bowermaster was a dentist in Hamilton County before retiring in 1992.

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