News

Indianapolis real-estate developer pleads guilty to fraud

Posted December 09, 2015 6:00 am

The Associated Press

INDIANAPOLIS (AP) - An Indianapolis real-estate developer has pleaded guilty to theft and fraud charges involving $340,000.

The Indianapolis Star reports (http://indy.st/1jNWcPX ) that Cornelius "Lee" Alig changed his plea at a hearing Tuesday in Marion Superior Court. Prosecutors say he received the money via promissory notes he wasn't able to repay.

Most charges against Alig were dropped as part of a plea deal with Marion County prosecutors. The deal calls for a two to eight year sentence. Alig also must pay restitution. He is to be sentenced Jan. 29.

An investigation into Alig started in 2012. That's when the promissory notes were found. Prosecutors say one of the notes was issued just before Alig filed for personal bankruptcy.

___

Information from: The Indianapolis Star, http://www.indystar.com

Article Comments

Article Categories
Content Providers Indiana News Region

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.