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Former Indiana University basketball player Todd Leary, who has been their radio reporter for the past nine seasons, was arrested Thursday night before the IU-Purdue game on a warrant charging fraud with real estate funds, reports the Indianapolis Star. Leary was charged with 18 counts of misappropriations of escrow funds.

Leary was booked into the Monroe County Jail in Bloomington, IN, Thursday night and was being transferred today to Fort Wayne, IN, where he faces charges in Allen County court.

Court documents show that Leary's former teammate, Brian Evans, cooperated with state investigators to uncover the scheme, according to the Fort Wayne Journal-Gazette.

Leary, 39, of Carmel, is accused of conspiring with former title insurance broker Joseph Garretson, who has been charged in a $2.7 million fraud scheme, between July 2008 and February 2009. The majority of the charges are Class C felonies, with penalties of up to four years in prison for each count. (02-05-10)

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