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Secretary of State

Securities Division > News Archive  > For Immediate Release: March 11, 2009 Assets of Indianapolis-area Businesswoman Frozen in Fraud Investigation by Indiana Secretary of State Todd Rokita’s Securities Division

Contact: Jim Gavin
317-233-8655
Media@sos.in.gov

Geist-area woman accused of stealing millions in investor funds she raised for clean coal processing company; Carmel couple also named in complaint

Order granting plaintiff's verified motion for a temporary retraining order, and setting hearing date on plaintiff's motion for preliminary injunction

(Indianapolis) – Investigators and attorneys from Indiana Secretary of State Todd Rokita's Securities Division have successfully obtained a temporary restraining order against Dorothy Geisler-Tragardh, formerly a one-third partner in the clean coal energy company Praxis Resource Partners, LLC. Geisler-Tragardh is under investigation by Secretary Rokita's office for possible securities fraud after her former business partners came forward with suspicions she pocketed funds she raised from investors for the company and used the money for personal benefits and expenses.

Carmel residents Chris and Jan Marten as well as the business J.S. Martin, Inc. are also named as defendants in the civil complaint filed today, along with other businesses associated with Geisler-Tragardh.

Information filed by Secretary Rokita's office in Marion County Superior Civil Court 3 alleges Geisler-Tragardh would sell investors shares in Praxis Resource Partners characterized as "Class B" which were valued at $56, but would actually issue them her own shares of "Class A" stock worth only 30 cents a share. Additional evidence suggests that she would divert the difference into an Indianapolis bank account she kept secret from her business partners. Geisler-Tragardh used this account for personal expenses, including the purchase of a home on Geist Reservoir.

The assets of Geisler-Tragardh and the Martens were immediately frozen by Judge Patrick McCarty as a result of a civil complaint made by the Indiana Securities Commissioner with the assistance of the Indiana Attorney General's Office. The asset freeze will remain in place until a hearing set for March 18.

"As Indiana's securities regulator, my job is to protect investors who are targeted in white collar schemes such as this," said Secretary Rokita. "Too often, by the time investors catch on to how they're being duped, the money is gone. But I'm confident that because of the swift actions by my office to obtain this order, a process that will return funds to Geisler-Tragardh's victims can begin. I am proud of our investigators and attorneys for taking quick and meaningful action in this case."

Media Contact: Jim Gavin: 317.233.8655 or media@sos.in.gov.