Former Indiana basketball guard Todd Leary was arrested Thursday morning by the Carmel Police Department and charged with 10 felony counts.
The warrant for Leary’s arrest was issued on Sept. 25.
Leary faces five counts of level 6 felony fraud and five counts of level 6 felony thefts. In Indiana, a level 6 felony carries a minimum sentence of six months in prison, with a maximum of two and a half years with a $10,000 fine. Each of Leary’s charges involves loss or theft of property estimated between $750 and $50,000.
After an initial hearing Friday afternoon, his bail was set at $25,000.
Leary previously spent time in jail from 2010-11 after he pled guilty to conspiracy to misappropriate title insurance escrow funds while working for a title insurance broker who pled guilty to charges related to a $2.7 million scheme.
A pretrial conference is scheduled for 3:30 p.m. Nov. 17, with a full jury trial set for 8:30 a.m. Jan. 15 under Judge J. Richard Campbell.
FOX59 reported the arrest was made following an investigation that started in May when an individual told police Leary scammed him out of almost $50,000 for basketball lessons for his son.
While at Indiana, Leary appeared in 107 games under coach Bob Knight and was a member of Indiana’s 1992 Final Four team.
