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Secretary of State

Securities Division > News Archive  > 2003 Press Releases > For Immediate Release: August 15, 2003 Government Cooperation Leads to Guilty Plea

Contact: Cam Savage

Government Cooperation Leads to Guilty Plea
Shaw Faces up to 10 Years in Jail

Indianapolis, IN -- Indiana Secretary of State Todd Rokita today applauded a plea agreement between David J. Shaw of Indianapolis and Marion County Prosecutor Carl Brizzi that could lead to a 10-year jail term for Shaw. Shaw is a former branch manager with Raymond James & Associates, Inc., a registered securities broker-dealer.

"White-collar criminals are beginning to get the message that in Indiana we take securities fraud very seriously. This is great news for Hoosier investors," Rokita said.

An investigation initiated by Rokita's office regarding Shaw's activities at Capital Investments, Inc. led to eight criminal counts alleging Shaw offered and sold unregistered securities and sold securities in a fraudulent manner. Capital Investments, Inc. was an unlicensed investment firm that Shaw operated in addition to his duties as branch manager of a local Raymond James office. Other counts included charges that Shaw committed fraud on a financial institution, corrupt business influences, theft, and forgery.

Rokita referred the case to Marion County Prosecutor Carl Brizzi, who under Indiana law has the authority to file criminal charges. The offices continued working together to develop the case, which ultimately resulted in 23 counts of alleged criminal activity.

"I want to congratulate Prosecutor Brizzi and his staff for seeing this case through to a successful conclusion." Rokita said. "This is an excellent example of what is possible when officials at the state and local level cooperate, share resources, and put the interests of Hoosiers first."

Rokita reminded Hoosiers to check out any investment opportunity before investing. Businesses holding themselves out to be corporations should be registered with Rokita's office, as should both investments and their sellers. Information can be verified at Rokita's website or by phone at 317.232.6576 (for corporations) or 1.800.223.8791 (for securities).