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Indianapolis, IN - Indiana Secretary of State Todd Rokita commends the U.S. Attorney's office for filing federal charges against a former Indianapolis insurance executive in connection with a $3 million fraud scheme. The investigation against James Harrold began in Rokita's Securities Division. The Securities Division obtained a cease and desist order against Harrold in February of 2001. Harrold fled to Central America and was arrested this month in Belize on charges he fraudulently obtained a passport there. Federal prosecutors are seeking to have Harrold extradited.

The U.S. Attorney's Office for the Southern District of Indiana says Harrold faces charges including mail fraud, wire fraud, and money laundering. Harrold was formerly the Indiana sales manager for American Family Life Assurance Company, or AFLAC.

"An arrest warrant was issued for Mr. Harrold in November of 2001," Rokita said. "This case should send a message to white collar criminals that they may be able to run for a time, but they can't hide. We will eventually find them and bring them to justice. I want to thank U.S. Attorney Susan Brooks for her persistence in this matter."

Harrold allegedly convinced investors in Indiana, Ohio, Colorado, Nebraska, Minnesota, Missouri, and Florida to put money into a scheme where he claimed they would earn monthly profits of 20% on a minimum investment of $5,000. If convicted of the charges, Harrold could face a prison sentence of up to 200 years and fines of up to $7.25 million.