INDIANAPOLIS (January 9, 2018) — After being arrested and spending Thanksgiving in a California jail on charges of securities fraud, Jaron Marquis Garrett appeared before a judge today in Indianapolis for an initial hearing on felony charges brought by Marion County Prosecutor Terry Curry.
Garrett allegedly sold an unregistered security, made false statements, and failed to use the investment funds for their stated purpose. Prosecutors claim Garrett solicited investments for a downtown Indianapolis building rehabilitation project, promising large returns on investments.
“This is a great example to show that those who are suspected of violating securities laws in Indiana will be tracked down and held accountable. As 2018 begins, we are reminded that financial crimes are an ever present threat,” said Secretary Lawson. “I applaud the individual who contacted our office and reported the suspected wrongdoing. I would also like to thank Marion County Prosecutor Terry Curry, the U.S. Marshals, and my own staff for their efforts in making the arrest.”
Garrett is charged with two class C felonies: the fraudulent or deceitful act in the offer, sale or purchase of a security and the unlawful sale of a security. These charges are still pending and Garrett remains innocent until proven guilty.
For information on how to avoid becoming a victim of investment fraud visit www.in.gov/sos.