Sandra Chapman/Eyewitness News
Bloomington - A former IU basketball player and radio announcer is facing conspiracy and fraud-related charges.
Todd Leary, 39, who played at Indiana from 1990-94, was missing from his announcer's chair Thursday night after being arrested on a warrant from Allen County. He is facing 17 counts of conspiracy and misappropriation of escrow funds.
"Heard about it, read about it, was kind of surprised," said IU band member Charles Corbin.
The charges come after Leary's former co-worker admitted to a multi-million dollar refinancing scheme in Fort Wayne.
Court documents show $2.9 million in outstanding mortgage payoffs for 13 homeowners, but only $200,000 on hand. The remaining $2.7 million is gone.
Leary is accused of taking hundreds of thousands of dollars, then depositing money from an Indianapolis title company to cover his tracks. That title company is owned by former Colts player Ken Dilger.
Campus police at IU say they were in Assembly Hall, waiting for Leary to show up for his game day duties.
"Our responsibility is to arrest that person as expeditiously as we can and that's what we did," said Captain Jerry Minger.
"If they had, like, you know, drug him off the court right there during the middle of the game, that probably would have upset a lot of people," Corbin said.
Leary has since been transported from Bloomington to Fort Wayne to face charges.
