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.
Rush Co. man arrested in infant's death
A Rushville man was arrested Thursday in connection with the death of his infant son.
RTV6 staff picks for best burger in Indianapolis
It's #NationalBurgerDay, so we asked around for favorites amongst the RTV6 staff.
MAP: Do sex offenders live where your kids play?
Summertime means more kids will be playing outdoors – and if you live in Boone County, sheriff's deputies want you to be able to…
3 months after crash, Josh Speidel goes home
Columbus North High School basketball star Josh Speidel was released from the hospital Thursday, more than three months after he was…
Register for Kevin Gregory's Annual Weather Camp
School's out and it's time for RTV6 Chief Meteorologist Kevin Gregory's Annual Weather Camp!