Indianapolis Investment Advisor Arrested for Securities Fraud
An Indianapolis area investment advisor, Thomas Redmond, Jr., has been charged with securities fraud in an alleged scheme to defraud clients out of more than $580,000.
The investigation was conducted by the Securities Division of the Secretary of State's office. Marion County Prosecutor Terry Curry says the case illustrates why those who prey upon vulnerable victims must be vigorously pursued. Nine of ten victims were elderly.
Redmond is accused of diverting investors' money to his own personal and business expenses.