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Contact: Allison Fore
Danville, IN – Today, Indiana Secretary of State Todd Rokita joined Hendricks County Prosecutor Patricia Baldwin to announce the filing of criminal charges against Jason Keigley – an Indiana resident accused of swindling more than $1 million through fraudulent investment and mortgage schemes, primarily in Hendricks County.
In total, 3 counts for Class C Felonies and 9 counts for Class D felonies have been filed for theft, violations of the Indiana Securities Act, and violations of the Indiana Loan Broker Act.
Keigley worked as a loan originator for an Indiana mortgage company in 2004. While employed there, he also operated his own business – 1 st Place Mortgage. During that time, the Secretary of State's office and the Hendricks County Prosecutor believe he convinced at least 2 Hendricks County residents to invest in his company, telling them their investment was in an interest-bearing account and available to them upon request. No account has been located, and when the investors requested their funds, only a small portion was returned.
Further allegations indicate that Keigley brokered loans through his own business without the knowledge of his employer. To complete at least one of the mortgage closings on a Hendricks County home, he instructed the title company to void a check issued to his employer, and re-issue the check to his own company. In a separate instance, charging documents allege Keigley brokered 3 loans for 2 Hendricks County homes worth more than $500,000 each. With each mortgage, we believe he used power of attorney for the buyer, without the buyer's consent.
“We simply will not tolerate mortgage fraud in Indiana,” said Rokita. “Our foreclosure rate is one of the highest in the nation, and mortgage fraud is a contributor to foreclosure. We can work to reverse that trend by educating home buyers and by protecting Hoosiers' hard earned savings and investments from this type of damaging, criminal activity.”
According to RealtyTrac, an comprehensive, online mortgage marketplace, Indiana consistently ranks in the top 10 states nationally for mortgage foreclosures, and is currently ranked sixth.
The Prosecution Assistance Unit (PAU) of the Secretary of State's office initiated this investigation, and worked with Baldwin to file charges. Rokita created the PAU in 2004 to facilitate local law enforcement's prosecution of alleged Securities Act violations by creating a stronger partnership between the Statehouse and county courthouses. Since its inception, the PAU has helped law enforcement throughout the state file charges in 27 high-profile investment fraud cases, earned a 19 to 1 conviction-to-dismissal record, and obtained more than 175 years of sentenced jail time for white collar criminals.