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Ex-Indiana University player Leary pleads guilty in fraud

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Former Indiana University basketball player Todd Leary has pleaded guilty to charges stemming from an ex-business partner's multimillion-dollar mortgage fraud scheme.

Thirty-nine-year-old Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds. His agreement with Allen County prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly $295,000 in restitution before his October sentencing hearing.

When the judge asked Leary whether he knew what he was doing was wrong, he replied, "I did."

Prosecutors say Leary worked for Joseph Garretson, a title insurance broker who pleaded guilty in a major mortgage fraud case. Garretson, who operated Fort Wayne Title and Fort Wayne Mortgage, was sentenced in late June to 11 years in prison after he pleaded guilty to three counts of breaking the state loan-brokering law. He was also fined  $5,000 and ordered him to repay his victims $3.4 million

Investigators found more than a dozen cases in which Garretson refinanced mortgages for clients but didn't pay off the original loans, causing them to default.

Leary was a star at Lawrence North High School and played for the Hoosiers in 1989-94, including their 1992 NCAA Final Four team. He was an analyst for IU's radio broadcasts when he was arrested in February.

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  • Game Over?
    I guess this means Leary will need a new side gig to pay the money. His days on the IU sidelines are over.

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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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