Washington state man arrested for securities fraud in Pulaski County

Suspect accused of stealing $255,000 from investors

INDIANAPOLIS (Aug.14) - A Seattle, Wash. man, Joshua Ader, has been arrested on multiple felony charges in connection with local investor fraud through telephone solicitations, according to Indiana Secretary of State Connie Lawson's office.

Lawson credits Pulaski County Prosecutor Daniel Murphy for his work which helped lead to Ader's arrest.

Ader is currently being held in King County, Wash.. He is charged with several felony counts including Fraudulent or Deceitful Acts in the Offer or Sale of a Security as a class B felony, and Acting as an Unregistered Broker-Dealer and Corrupt Business Influence as class C felonies.

Ader is accused of stealing $255,000 from investors by soliciting investments over the phone.  

Ader allegedly solicited investors through cold calls with the promise of guaranteed high returns on their investments. Once he piqued a potential investor’s interest over the phone, he gave them instructions on how to wire him the investment money. To date, his investors have not received any returns on their investments and have been unable to secure a refund of their money. Ader allegedly used their money for his personal gain. 

“Cold calls are a growing trend for scam artists,” said Secretary Lawson. “These predators adapt to take their victims' hard earned money any way they can no matter how bold their measure may seem to you and I. I encourage all Hoosiers to always check with my office before investing; it is the number one way to protect yourself.

The Secretary of State’s office began investigating Ader when a complaint against him was filed with the Securities Division. The investigation found that Ader was barred from the securities industry in any capacity in 1997.  It is a violation of the Indiana Uniform Securities Act to sell securities without being registered with the Secretary of State’s office.

Lawson encourages Hoosiers to make sure any securities professional who is doing business in the state of Indiana and their investments are registered by calling the Secretary of State’s office or by doing a search on her office's website,” said Indiana Securities Commissioner Alex Glass. “A quick search or phone call could save you thousands of dollars.”

Hoosiers can research securities professionals by calling 317-232-6681 or by looking at the database online at sos.in.gov. For information on how to avoid becoming a victim of investment fraud visit www.indianamoneywise.com.