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Carmel financial adviser facing fraud charges

April 16, 2015

A Carmel financial adviser has been indicted by a federal grand jury on 66 criminal counts, including wire fraud, money laundering and securities fraud, the United States Attorney's office announced Wednesday.

Jaime C. Lopez, 40, is accused of using investors' retirement funds for his own use instead of investing them as promised.

Lopez fraudulently took an estimated $330,000 from investors from January 2010 to June 2012, the U.S. Attorney's office said.

Lopez could face up to 20 years on each count of wire fraud, 10 years for money laundering and 20 years for securities fraud.

According to the indictment, Lopez conducted business from his home in Carmel. He created various business names, JCL Interest Plus, JCL Capital Inc. and JCL Directs (JCL Entities) to direct retirement funds from the unsuspecting investors.

He told clients the funds were being invested in business loans, real estate and bonds, but he instead used them to buy automobiles, make mortgage payments and on home landscaping.

The case was investigated by the Internal Revenue Service's Criminal Investigation division and the Indiana Secretary of State's Securities Division.

Lopez was not registered to sell securities, which should have been a red flag for fraud, Secretary of State Connie Lawson said in a written statement. She urged investors to check adviser credentials with her office before making investments.

 

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