Fishers lawyer charged with securities fraud
INDIANAPOLIS (WISH) — Indiana Attorney General Todd Rokita says a Hamilton County lawyer was taken into custody for a Ponzi scheme involving hundreds of thousands of dollars.
The Republican attorney general says Darrin Wesley Smith Blaine presented himself as a seller of securities. Rokita says Blaine was not registered to do so. Rokita asked a court to freeze Blaine’s assets.
Rokita earlier this month filed a lawsuit against Blaine, of Fishers, and his assets were temporarily frozen by a court on Thursday.
He and at least two others from out of state, Allen R. Geiger and Marguerite Kimball-King, and the businesses Akamai Physics Inc. and Porrima Photonix Inc. are accused of defrauding multiple people in Indiana.
According to the lawsuit, Blaine tried to sell securities without being registered in the state. Rokita says Blaine then used the $680,000 of investors money to fund his own personal lifestyle expenses.
Blaine was arrested about two weeks ago, on Oct. 12, and charged with six felonies, including securities violations, money laundering, and corrupt business influence.
Rokita’s lawsuit asks a Hamilton County court to fully freeze Blaine’s assets and give the funds back to the people he is accused of defrauding.
The next hearing in the securities case was set for Nov. 28 in Hamilton Superior Court 5. The next hearing in the criminal case was set for Dec. 21 in Hamilton Superior Court 2.
News 8’s Gregg Montgomery contributed to this report.
