Fishers man accused of selling $230M in dubious financial products – Indianapolis Business Journal
A Fishers man is facing a tangle of legal issues related to accusations that he was involved in the nationwide sale of more than $230 million in questionable financial products.
The depth of the situation came to light after Robyn Dale “Rob” Whitlow, 51, filed for Chapter 7 bankruptcy protection late last month, declaring personal assets of $45,305, balanced against liabilities of just more than $2 million.
According to court records from that case, most of Whitlow’s liabilities are related to potential penalties and settlements in five civil and regulatory actions involving Whitlow and his now-defunct Indianapolis company, American Alternative Investments LLC. The largest of those potential liabilities is connected to a South Carolina case in which a court-appointed receiver is attempting to recoup more than $850,000 in sales commissions.
In all five of the cases, Whitlow and AAI—and in some cases additional defendants—are accused of selling to individual investors financial products that have drawn scrutiny from securities regulators and/or prosecutors. Those products were from Resolute Capital Partners, 1 Global Capital and Future Income Payments LLC.
The five cases include civil actions filed by securities regulators in both Pennsylvania and Washington state.
In the Washington case—which names Whitlow, AAI and three individual…