Ex-Hoosiers player Leary pleads guilty

Updated: July 16, 2010, 8:44 AM ET
Associated Press

FORT WAYNE, Ind. -- Former Indiana University basketball player Todd Leary has pleaded guilty to charges stemming from an ex-business partner's multimillion-dollar mortgage fraud scheme.

Thirty-nine-year-old Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds. His agreement with Allen County prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly $295,000 in restitution before his October sentencing hearing.

Leary told the judge that he had known he was doing something wrong.

Prosecutors say Leary worked for a title insurance broker who pleaded guilty in a $2.7 million fraud case.

Leary played for Indiana during 1989-94 and was an analyst for IU's radio broadcasts when he was arrested in February.


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