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CEO of Samex Capital Agrees to Plead Guilty in Alleged Ponzi Scheme Case

Keenan R. Hauke, CEO of the Indianapolis investment firm Samex Capital Partners LLC, has agreed to plead guilty to one count of securities fraud in connection to an alleged $7 million Ponzi scheme ("Samex Capital’s Hauke Charged in $7 Million Ponzi Scheme," Bloomberg, Dec. 14, 2011).

According to Indianapolis U.S. Attorney Joseph H. Hogsett, Hauke is accused of defrauding 67 investors over the course of approximately seven years. The complaint filed against Hauke alleges that he failed to invest his clients’ funds as promised, and instead used the money to make Ponzi-style payments to other investors. He also is accused of misappropriating some of the funds for his personal use.

According to the complaint, Hauke falsely reported to investors that they were earning high rates of returns through the investment fund. Hauke allegedly lied in order to keep the investors from closing their investment accounts. The alleged scheme unraveled earlier this year, after a former Samex Capital employee resigned from Hauke’s company and informed investors that their funds may not be secure.

The securities fraud charge is punishable by up to 25 years in prison. According to Hauke’s plea agreement, however, he will be sentenced to less than 17 years. Hauke is scheduled to appear in court on Dec. 28.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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