The Indiana Securities Division has accused a prominent Indiana money manager of operating a Ponzi scheme and has obtained the appointment of a receiver over at least $5 million in assets controlled by the accused. A temporary asset freeze has been obtained on Keenan Hauke and his firm, Samex Capital Advisors, while authorities investigate claims raised by a former business partner of Hauke who went to authorities after noticing extensive irregularities with the firm.
A complaint filed against Hauke and several Samex entities alleges that Hauke "misled investors by failing to inform them that the funds they were investing would be converted to his personal use." Investors were led to believe that by purchasing interests in Hauke's hedge fund, these funds would be invested in publicly tradable securities. Instead, Hauke is alleged to have misappropriated investor funds from Samex to his personal bank account.
Hauke has been a visible face in news and television. Along with contributing a regular column to the Indianapolis Business Journal, he has also appeared on Fox Business News and CNBC. An investigation is ongoing.
A victim website has surfaced at www.samexsurvivors.com