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Secretary of State

Securities Division > News Archive  > 2007 Press Releases > For Immediate Release: August 2, 2007 NETOLICKY ARRESTED FOR ALLEGED SECURITIES FRAUD

Contact: Allison Fore


Rokita’s Prosecution Assistance Unit assists LaPorte County in securities fraud investigation

LaPorte, Ind. (August 2, 2007) – Indiana Secretary of State Todd Rokita’s Prosecution Assistance Unit (PAU), working with LaPorte County Prosecutor Robert Beckman and the LaPorte County Sheriff’s Department, conducted an investigation which led to the arrest of Elaine Netolicky last night pursuant to a LaPorte County arrest warrant.

Netolicky is a Hamilton County resident accused of selling more than $85,000 in unregistered securities to a LaPorte County couple. Following her arrest, which was executed by the Hamilton County Sheriff’s Department and the Indiana State Police, Netolicky is expected to appear at an Initial Hearing next week in LaPorte, where she will be informed of the 15 Class C Felony counts that were filed by the LaPorte County Prosecutor’s Office.

The 15 Class C Felony counts filed against Netolicky include the following offenses: Offer or Sale of Unregistered Securities; Transacting Business by an Unregistered Broker-Dealer or Agent; and Fraud in Connection with the Offer, Sale, or Purchase of a Security. The criminal charges filed against the defendant, Elaine Netolicky, are merely accusations, and the defendant is presumed innocent until and unless proven guilty.

About the PAU
Rokita created the PAU in 2004 to advance criminal investigations and to facilitate the prosecution of alleged Securities Act violations and Loan Broker Act violations. The focus of the PAU is to assist state prosecutors in an effort to work together at the courthouse and the Statehouse to root out white-collar crime. By working with law enforcement throughout the state, the office has helped to file charges in 26 high-profile investment fraud cases in Indiana, and has a 19 to 1 conviction-to-dismissal record, with more than 175 years of jail time sentenced to date.