Leary Charged With Alleged Real Estate Scam

By Scott Sarvay

Leary Charged With Alleged Real Estate Scam

June 18, 2010 Updated Feb 5, 2010 at 6:11 PM EDT

FORT WAYNE, Ind. (Indiana's NewsCenter) - Former IU basketball standout Todd Leary is being held in the Allen County Jail charged with 17 felony counts related to an alleged real estate scam.

The 39-year-old Leary was arrested Thursday night in Bloomington, as he prepared to do color commentary for the Indiana-Purdue men's basketball game.

Court documents claim Leary conspired with Joseph Garretson in a series of fraudulent mortgage re-financing transactions, in which clients were bilked out of nearly three-million dollars.

Former IU teammate Brian Evans allegedly tipped off the Secretary of State's Office that Leary had blackmailed Garretson for close to a million dollars to keep quiet about illegal activities.

Leary had not posted his $60,000 bond at last check.

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