INDIANAPOLIS - A father and daughter were arrested following an investigation into an alleged scam that targeted the elderly.
Charles Blackwelder and Cara Grumme were arrested Thursday, officials with Secretary of State Connie Lawson’s office said.
The pair is accused of running a scam that sold investment opportunities through rental properties to elderly investors, officials said.
Blackwelder’s company, CFS LLC, has conned nearly 300 elderly Hoosiers into investing in real estate over the last decade, officials said.
Investigators said the pair started selling and foreclosing their victims’ properties without any notice. In some cases, they were even using the homes for their own personal use.
Blackwelder and Grumme both face 20 different felony charges including securities fraud and other violations of state securities laws, officials said.
"Securities fraud comes with serious penalties because of the devastation and destruction it renders. This is particularly the case when allegations are directed at a member of the legal profession who convinced clients to put money into an unlawful investment as a way to protect assets at the end point of their lives," Securities Commissioner Carol Mihalik said.
Blackwelder was being held in the Hamilton County Jail. Grumme was being held in the Delaware County Jail but will eventually be moved to Hamilton County.
The investigation is ongoing.
Watch RTV6 and refresh this page for updates.
PD: Grandma shot during family argument
A woman was shot during a family dispute involving her daughter and her daughter's boyfriend at an apartment complex on the city's…
Safety 6: Skin disease shared via beauty tools
Dermatologists are warning against a contagious skin disease that's passed by sharing everyday beauty tools including makeup brushes,…
IMPD chief speaks on Baltimore violence
Indianapolis Metro Police Chief Rick Hite has direct ties to an east coast city caught in turmoil after the funeral for a man who…
Students at risk for TB tested at Southport HS
Students at Southport High School will be tested for tuberculosis Tuesday after a confirmed case of the disease surfaced last week.
Driver hospitalized after crashing into tree
A driver was hospitalized early Tuesday after crashing into a tree on the city's north side, Indianapolis Fire Department crews said.