CARMEL — A former Indiana University basketball player who was a member of the legendary Bob Knight-coached 1992 Final Four team has been arrested on felony fraud and theft charges, accused of running a scheme that defrauded a parent out of nearly $50,000 for a youth basketball program that never materialized.

Todd Leary, 54, was taken into custody after an investigation by the Carmel Police Department (CPD). He is facing five preliminary counts of fraud and five counts of theft, all Level 6 felonies, according to a probable cause affidavit filed in Hamilton County on September 25.

Leary played for the Hoosiers from 1989 to 1994, appearing in 107 games.

The investigation began on May 8 when a victim met with a CPD officer, alleging Leary had scammed him out of approximately $48,900. Th

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