Hauke fraud victims to get $1M in initial restitution

Back to TopCommentsE-mailPrintBookmark and Share

The Indiana Secretary of State's Office said Thursday the fraud victims of former money manager Keenan Hauke are set to receive $1 million in initial restitution.

Hauke, who managed Fishers-based hedge fund Samex Capital Partners LLC, was sentenced in July 2012 to 10 years in federal prison after pleading guilty to running a Ponzi scheme that defrauded 67 investors of $7.1 million.

More investors have been uncovered by the state since Hauke's plea agreement, bringing the total to 97 victims with more than $9 million in losses, the secretary of state’s office said.

The first $1 million in restitution is expected to be distributed on a pro-rata basis, a Secretary of State's Office spokesperson said Friday. Checks should be mailed by Sept. 13.

Carmel attorney William E. Wendling Jr., the receiver appointed by the state, will continue to pursue more funds for investors.

Hauke, for example, owns a condo in Barbados worth about $360,000 that has yet to be sold.

The receiver also filed suit against Hauke’s accounting firm, Indianapolis-based DeWitt & Shrader PC, in the hope of recovering more losses. The accounting firm has denied misconduct.

To date, $1.5 million has been recovered “through asset freezes, marshaling of other accounts and clawback litigation,” the state said.

Wendling said in court papers that about $535,000 was retrieved from investors who received payouts totaling more than their investments during a time when Samex was determined to be insolvent.

Some of the recovered funds are being used to pay the receiver, and the law firm and CPA firm he is using to help him in the recovery. Those fees have exceeded hundreds of thousands of dollars.

Hauke’s assets were frozen days after an investigation began into his fraudulent activities in mid-2011.

“Helping these Hoosier victims is our No. 1 priority and we will not stop until we have maximized their restitution,” Secretary of State Connie Lawson said in a prepared statement.

In addition to the $1 million distribution, four Hauke victims received a total of $42,000 from the Secretary of State’s Securities Restitution Fund, which was established in July 2010 to help fraud victims.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. Yes sir keep cashing those 300K a year checks direct to IMS, while millions disappear from the teams like Rahal's. Guess there wasn't enough ka- ching going around to keep Sarah Fisher in business without their "merger". LOL._____.Meanwhile back in Realville the series with the "best racing in the world" drew what appeared to be about 5000 live spectators ( and probably 1500 of those Target "freebies", and was beaten in the ratings by a series that reportedly consists of "parades" and aired while most people are still sleeping. That will generate those big ka-chings for sure. :-). But, hey, as long as the Speedway gets the cash who gives a damn about the teams?

  2. Welcome to PETERSON LOAN AGENCY Company (A Personalized Service for All Your Financial Needs) We, Liberal Investment Company Providers offers loan at a very low interest rate of 2%, we offer Personal loans, Debt Consolidation Loan, Venture Capital, Business Loan, Educational Loan, Home Loan, and Loan for any reason and urgent needs!. with a maximum duration of 30 years. Have you been turned down by your bank? Do you have bad credit? Do you have unpaid bills? Are you in debt? Do you need to set up a business? Worry no more as we are here to offer you a low interest loan. Our loan ranges from $5,000-USD (Five Thousand US dollars) to $50, 000,000.00.(Fifty Million US dollars). We also lend in USA DOLLARS EURO and POUNDS ! Fill in this form and forward it to our email: PETERSONLOANAGENCY@GMAIL.COM 1. Your Full names:_______ 2. Contact address:_______ 3. Country Of Residence:______ 4. Loan Amount Required:________ 5. Duration:_____ 6. Gender:_____ 7. Occupation:________ 8. Monthly Income:_______ 9. Date Of Birth:________ 10.Telephone Number:________ 11. Purpose of loan:_________ Yours In Service, MR PERRY, PETERSONLOANAGENCY@GMAIL.COM

  3. If I could actually get the prices...I would do this on my own. We need laws that force provides to publish the costs they will charge. Everyone else gives you the price in advance...except hospitals.

  4. I was under the impression that fencing is not allowed on a front yard and that on a corner, both sides are considered "front" yards, therefore can't be fenced without a variance. Also impedes the visibility for drivers at the intersection. Am I understanding this correctly? Might be why a fence was not included in the plans and a request for a variance will have to be made?.

  5. I was a big fan of Cowards and Carrots, which I got a chance to see at the show. It's currently on Kickstarter, but the designer also put out What's He Building in There last year, which got a fair amount of buzz.