INDIANAPOLIS – The Indiana secretary of state's office says victims of a Ponzi scheme will receive $1 million in restitution now that the state has frozen the assets of a Fishers money manager convicted of securities fraud.
The money is only part of a total of $9 million in investor losses that officials believe resulted from the scheme.
Keenan Hauke was sentenced to 10 years in prison in December 2011 for securities fraud.
Officials say they're also going after a condominium that Hauke owned in Barbados.
Ninety-seven investors will receive a share of the $1 million from the funds recovered to date.
Several victims have also received money from the Secretary of State's Securities Restitution Fund that helps victims of securities fraud recover a portion of their losses.