CARMEL, Ind. -- Police have arrested a former Indiana University basketball player accused of stealing nearly $50,000 in a scheme involving an amateur youth basketball team that never came to fruition.

According to a probable cause affidavit filed on Sept. 25 in Hamilton County, 54-year-old Todd Leary is facing five counts of fraud and five counts of theft. All of the preliminary charges are level 6 felonies.

Leary played under legendary coach Bob Knight from 1989 to 1994, appearing in 107 total games for Indiana. His collegiate highlight was an appearance on the 1992 Final Four team.

Investigation, arrest

An investigation into Leary was launched on May 8 when an officer with the Carmel Police Department met with an individual who accused Leary of scamming him out of nearly $50,000 for

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