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Richard Hartunian

McGinn, Smith indicted on fraud charges

The new charges come just weeks before the alarm industry investors go on trial in civil court for alleged Ponzi scheme

ALBANY, N.Y.—Security industry investors Timothy McGinn and David L. Smith—already being sued by the Securities and Exchange Commission on a claim they bilked investors of at least $80 million in a Ponzi scheme—now are facing criminal charges that could send them to prison for years, if convicted.