An Indianapolis CPA firm has settled a lawsuit with Indiana’s Secretary of State for $1.8 million after it served as the accounting firm of a convicted Ponzi schemer.
The firm, DeWitt & Shrader, agreed to pay the sum, according to an announcement Tuesday by Indiana Secretary of State Connie Lawson’s office. A former client of the firm, money manager Keenan Hauke, managed Samex Capital Partners LLC and was sentenced to 10 years in prison in December 2011 for securities fraud. Although Hauke is now behind bars, Lawson’s office is still trying to return significant portions of investor losses, totaling over $9 million, and brought suit against Hauke’s former accounting firm. The firm’s principal did not immediately return a phone call seeking comment.
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