Bloomberg News

Samex Capital’s Hauke Charged in $7 Million Ponzi Scheme

December 14, 2011

(Updates with prosecutor’s comment in third paragraph.)

Dec. 14 (Bloomberg) -- Keenan Hauke, chief executive officer of the Indianapolis investment firm Samex Capital Partners LLC, was charged with running a Ponzi scheme and has agreed to plead guilty.

Hauke, 40, of Fishers, Indiana, is accused of making more than $7 million dollars by defrauding 67 investors starting in 2004 and continuing into this year, U.S. Attorney Joseph H. Hogsett of Indianapolis said today in a statement.

“Hoosiers have no tolerance for those who foster a culture of corruption in our communities, and neither does this office,” Hogsett said. “Hoosier” is a nickname for people from Indiana.

Hauke is accused of failing to invest client money as promised, spending some of it for his own benefit and using new investor funds to pay off older clients, according to a complaint filed in federal court in Indianapolis yesterday.

According to a court filing, he agreed to plead guilty to a single count of securities fraud, punishable by as long as 25 years in prison.

His lawyer, Juval Scott of Indiana Federal Community Defenders Inc., declined to comment on the case. Tim Horty, a spokesman for Hogsett, said Hauke is due in court on Dec. 28.

The case is U.S. v. Hauke, 11cr235, U.S. District Court, Southern District of Indiana (Indianapolis).

--Editors: Andrew Dunn, Michael Hytha

To contact the reporter on this story: Andrew Harris in Chicago at aharris16@bloomberg.net

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus