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Secretary of State

Securities Division > News Archive  > 2007 Press Releases > For Immediate Release: November 7, 2007 MORGAN COUNTY COURT SENTENCES MARTINSVILLE RESIDENT IN INVESTMENT FRAUD CASE

Contact: Allison Fore
317-233-8655
Media@sos.in.gov

 

Rokita partners with Sonnega, Indiana State Police to prosecute Nardini

(Martinsville, IN) – Teamwork among Morgan County Prosecutor Steven Sonnega’s office, the Indiana State Police, the Morgan County Sheriff’s Department, the Martinsville Police Department and Indiana Secretary of State Todd Rokita’s Prosecution Assistance Unit (PAU) culminated in this week’s sentencing of Bill Nardini for securities fraud.

Following an investigation that began in March of this year, Morgan County resident Bill Nardini plead guilty to two counts of Fraudulent Sale of Securities, Class C Felonies. After Chief Deputy Prosecuting Attorney Bob Cline presented the state’s arguments at the conclusion of the sentencing hearing, the court sentenced Nardini to 16 years in prison with no time suspended.

Nardini represented to investors that he was a financial adviser, and he offered opportunities for investors to participate in options trading contract investments. Nardini’s propositions and guarantees of return for investors were complete frauds. Nardini was not registered to sell securities, and Nardini’s investment products were also not registered. Throughout the scam, Nardini pocketed in excess of $170,000 from investors.

"I commend Chief Deputy Prosecutor Bob Cline, Indiana State Police Detective Tim Keller, and the members of the PAU for their action on this important matter," said Rokita. "This case should serve as a warning to scam artists that their misdeeds will not go unpunished. This case will also hopefully serve as an important reminder to investors to utilize the resources of the Secretary of State’s office to thoroughly investigate the registration status of investment promoters and the products that are marketed."

About the PAU
The PAU was created by Rokita in 2004 to further existing investigations and facilitate local law enforcement's prosecution of alleged Securities Act 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 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.


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