Two men who raised money from dozens of local investors face multiple criminal charges after investigators said they created a shell company and did not invest the money the way investors were told.
Martin D. McClary, 47, 8716 S. County Road 250W, Trafalgar, and Parry Wayne Clark, 62, 10010 Belle Rive Blvd., Apt. 1703, Jacksonville, Fla., have each been charged with 23 felony counts of securities registration violations, broker-dealer violations and securities fraud.
An investigation found they took at least $1.6 million in investments from 33 residents, mostly from Johnson County, promised big returns and, in at least a few cases, told investors their money would double in a year, according to the Indiana Secretary of State’s Office. Investigators said McClary and Clark ran an investment scheme and spent at least some of investors’ money for bills and to pay other investors.