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Johnson County woman guilty of securities fraud

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A Johnson County woman was sentenced to eight years in prison, with four years suspended, after pleading guilty Wednesday to securities fraud.

According to the charges, Wanda Robertson, 67, solicited investors through the Web site Craig’s List, claiming to offer a business opportunity in which they would be given ownership in her company, Real Estate Paper Chase, without having control over operations of the business.

Robertson’s scheme involved using investors’ credit histories to apply for loans and credit cards on behalf of the business, the Indiana Secretary of State’s office said.

She promised to pay any debt incurred under the investor’s name and provide a 4-percent return on their investments. Robertson further offered opportunities to become officers in “shelf corporations” and to then invest in real estate through these companies and make even more money, the Secretary of State’s office said.

Robertson pleaded guilty to securities fraud and two other charges involving her failure to properly register with the office before doing business in Indiana—all class C felonies.

In addition to her prison sentence, she also was ordered to repay her three victims a total of more than $170,000.

“This case is an egregious example of an unfortunate and dangerous trend—people using the Internet to perpetuate investment fraud,” Secretary of State Todd Rokita said in a prepared statement. “It is vital for Hoosiers to research investment opportunities thoroughly, especially those offered online.”

Robertson has been held since March in the Johnson County Jail on a $72,000 bond.

Johnson County Prosecutor Brad Cooper appointed Stephanie Caraway, senior attorney for Rokita’s Prosecution Assistance Unit, to handle the case against Robertson, with assistance from Cooper and his staff.

 

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  • Yawn
    Here Rokita is sitting on top of one of the biggest public corruption cases in US history and he is bragging about low hanging fruit

    Todd, would you please be the first to charge you know who on 1) Indiana state securities violations over the previous pumps 2) failure to pay Indiana state income tax and 3) failure to pay Indiana motor vehicle sales tax

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  1. The deductible is entirely paid by the POWER account. No one ever has to contribute more than $25/month into the POWER account and it is often less. The only cost not paid out of the POWER account is the ER copay ($8-25) for non-emergent use of the ER. And under HIP 2.0, if a member calls the toll-free, 24 hour nurse line, and the nurse tells them to go to the ER, the copay is waived. It's also waived if the member is admitted to the hospital. Honestly, although it is certainly not "free" - I think Indiana has created a decent plan for the currently uninsured. Also consider that if a member obtains preventive care, she can lower her monthly contribution for the next year. Non-profits may pay up to 75% of the contribution on behalf of the member, and the member's employer may pay up to 50% of the contribution.

  2. I wonder if the governor could multi-task and talk to CMS about helping Indiana get our state based exchange going so Hoosiers don't lose subsidy if the court decision holds. One option I've seen is for states to contract with healthcare.gov. Or maybe Indiana isn't really interested in healthcare insurance coverage for Hoosiers.

  3. So, how much did either of YOU contribute? HGH Thank you Mr. Ozdemir for your investments in this city and your contribution to the arts.

  4. So heres brilliant planning for you...build a $30 M sports complex with tax dollars, yet send all the hotel tax revenue to Carmel and Fishers. Westfield will unlikely never see a payback but the hotel "centers" of Carmel and Fishers will get rich. Lousy strategy Andy Cook!

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