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Secretary of State

Securities Division > News Archive  > 2008 Press Releases > For Immediate Release: November 20, 2008 Man Charged With Loan Broker Fraud

Contact: Jim Gavin

Jason Keigley already convicted of fraud in March 2008

(New Castle, IN) – Former mortgage broker Jason Keigley faces six separate new felony counts involving violations of Indiana's Loan Broker Act. The arrest occurred this week at the Branchville Correctional Facility after continued investigation of Keigley's mortgage practices by Indiana Secretary of State Todd Rokita's Prosecution Assistance Unit. The additional charges were filed by Henry County Prosecutor Kit Crane. Keigley already faces more than 11 years in prison for felony fraud convictions in Hendricks County. If convicted on the new charges, Keigley could spend up to three years in prison for each felony charge.

Documents filed with the court allege that Keigley was not registered as a loan broker as required by law when he closed a mortgage for a Henry County couple. He also took steps to obtain mortgages for two other couples in Henry County. However, before he could close the mortgages, he was arrested and incarcerated in Hendricks County on unrelated mortgage and securities fraud charges.

Specific charges against Keigley include three counts of loan broker fraud and three counts of acting as a loan broker while not being licensed, which are Class D felonies.

"Hoosiers deserve to be protected from those who prey on their financial security. Individuals like Jason Keigley deserve to be held accountable for each and every one of their devious attempts to steal money from innocent victims," said Secretary Rokita. "Our office has a track record of partnering with prosecutors across the State of Indiana, like Henry County Prosecutor Kit Crane, to aggressively root out financial crime and keep Indiana citizens safe."

Crane appointed Stephanie Caraway, Senior Attorney for Secretary Rokita's Prosecution Assistance Unit, as Special Deputy Prosecutor to prosecute and try the case against Keigley, with assistance from Crane and his staff.

Keigley's convictions in Hendricks County stem from his convincing a Hendricks County couple to invest in his mortgage company. Keigley represented to the couple that their funds would be available to them at any time. However, when the couple later requested their funds be returned, he only gave them a small fraction of what they had invested. The couple never recovered the remainder of their money. In March of 2008, a Hendricks County court sentenced Keigley to over 11 years in prison for his scheme. He is currently scheduled to be released in April 2012.

The charges described are merely an accusation. The defendant is presumed innocent until and unless proven guilty. For more information on how to avoid becoming a victim of investment fraud, visit

About the Prosecution Assistance Unit

In 2004, Indiana Secretary of State Todd Rokita created the Prosecution Assistance Unit within the Securities Division of the Secretary of State's Office. Its sole purpose is to assist police and prosecutors in investigating and prosecuting criminal violations of the Indiana Securities Act and the Indiana Loan Brokers Act. The investigators and attorneys in the unit collectively have over 72 years of experience in investigating and prosecuting criminals. Since its inception, the Unit has helped to convict 38 criminals in state and federal courts across Indiana in cases that have resulted in over 310 years of time sentenced. In addition, courts have ordered defendants to pay over $29 million in restitution to crime victims.

Media Contact: Jim Gavin: 317.233.8655 or