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Secretary of State

Securities Division > News Archive  > 2007 Press Releases > For Immediate Release: December 17, 2007 OLIPHANT BROTHERS ARRESTED FOR ALLEGED SECURITIES FRAUD

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

 

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

(Elkhart) – Indiana Secretary of State Todd Rokita’s Prosecution Assistance Unit (PAU), working with Elkhart County Prosecutor Curtis Hill, Jr. and Trooper Detectives Alan Lowrance and Lamar Helmuth of the Indiana State Police, conducted an investigation which led to the arrests of brothers Bryan Darrell Oliphant and Brett M. Oliphant pursuant to Elkhart County arrest warrants.

The Oliphants are accused of the fraudulent sale of unregistered securities and of wrongfully receiving more than $1,215,000 from the sale of unregistered securities. The arrest of Bryan Darrell Oliphant was executed by the St. Joseph County Sheriff’s Department. Brett M. Oliphant was arrested in California by the Napa Police Department. Trial dates will be set by the Elkhart County Superior Court No. 2.

The eleven (11) Class C Felony counts filed against Bryan Darrell Oliphant include the following offenses: eight (8) counts of Offer or Sale of an Unregistered Security and three (3) counts of Fraud in Connection with the Offer or Sale of an Unregistered Security. The four (4) Class C Felony counts filed against Brett M. Oliphant include the following offenses: Offer of Sale of an Unregistered Security; Transacting Business by an Unregistered Broker-Dealer or Agent; Fraudulent or Deceitful Acts with the Offer, Sale, or Purchase of a Security; and Conspiracy to Commit Fraudulent or Deceitful Acts with the Offer, Sale or Purchase of a Security. The criminal charges filed against the defendants are merely accusations, and the defendants are 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.

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