Former IU player, announcer arrested

FORT WAYNE, IND. (WANE) - Thursday night’s IU - Purdue Basketball game came with some unexpected pre-game drama.

IU Radio Color Commentator and former Hoosier basketball player Todd Leary was arrested just 15 minutes before game time, on charges stemming from Allen County.

Officials from Monroe County say Leary was preparing to call the game at Assembly Hall Thursday, when he was called into a room and was told he was being arrested. Leary then reportedly had an opportunity to make arrangements, and was then escorted out of the building.

From there, Leary was handcuffed and was taken to the Monroe County Jail on Allen County charges.

"Our office has charged Todd Leary with 17 counts of criminal offenses," Allen County Prosecutor Karen Richards said Friday.

The charges involve real estate fraud totaling $3 million. Court documents list 15 people who fell victim to the scheme which centered around conversion or misappropriation of insurance title funds.

"The original mortgage was not paid off, but this is over a period of time, and so monies allegedly came out of an escrow account instead of going directly to pay for the mortages," said Allen County Deputy Prosecutor Tim McCaulay.

A probable cause says Leary acted as a partner in the now-defunct "Fort Wayne Title" which at one time operated on New Vision Drive in Fort Wayne.

That's why the charges are coming from Allen County. Joseph Garretson of Fort Wayne pleaded guilty to similar charges on Monday. Allen County Prosecutor Karen Richards believes Leary and Garretson conspired together in this case, and this may not be the last chapter.

"I wouldn't be surprised if we don't get additional folks who realize they have become victims of this or a similar situation," Richards said.

That's why the prosecutor urges you to call the State Department of Insurance if you feel you've been a victim in a case like this. That number is (317) 234-6068.

Leary, meanwhile, will be transported to Allen County with an initial court appearance tentatively set for the week of February 8.

Leary was a star at Lawrence North and played for the Hoosiers in 1989-94, including their 1992 NCAA Final Four team. Leary is the color analyst for IU's radio broadcasts.

Indiana University Athletics and its radio employer partner issued the following joint statement:

“Indiana University Athletics and Learfield Sports, the Hoosiers' multimedia rights holder which oversees the Indiana University Radio Network, recognize the recent events involving color analyst Todd Leary.

Clearly, both parties are concerned for Todd and his family as he deals with this matter. We will continue to move forward with the current broadcast team of Don Fischer and Joe Smith calling IU Basketball games through the remainder of the season.”