Fishers financier charged with securities violations, money laundering
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State officials say they’re moving quickly to seek legal remedies following the arrest of a Hamilton County financier accused of defrauding multiple Indiana investors out of $680,000.
Darrin Blaine of Fishers was arrested on Oct. 12 and charged by the Hamilton County prosecutor with six felony counts of securities violations, one felony count of money laundering and a felony count of corrupt business influence.
State officials say they believe Blaine presented himself to investors as a seller of securities but was not registered by the Indiana Securities Division. They say Blaine used the $680,000 in investments collected from eight Indiana clients to fund his own personal lifestyle expenses.
The Indiana Securities Division began an investigation after receiving complaints. That investigation expanded to include other state and local agencies in Indiana and New Mexico, where businesses Blaine used are located, state officials said.
In addition to facing criminal charges, Blaine and his associates are now being sued by the Indiana Attorney General Todd Rokita’s office on behalf of the Indiana Securities Commissioner. Those associates include two companies, Akamai Physics Inc. and Porrima Photonix Inc., and two individuals, Allen R. Geiger and Marguerite Kimball-King. All other defendants are based in New Mexico, according to a news release from Rokita’s office.
Hamilton Superior Court 5 Judge David K. Najjar last week granted a temporary restraining order and appointed a receiver for assets linked to Blaine and his associates. The attorney general’s office is also seeking a freeze of assets and restitution for investors’ losses.
An injunction hearing is scheduled for 9 a.m. Nov. 28 in Hamilton Superior Court 5. A jury trial related to Blaine’s criminal charges is scheduled for 8:30 a.m. February 6, 2024, in Hamilton Superior Court 2.