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Fishers man accused of selling $230M in dubious financial products

Ponzi Scheme

Fishers man accused of selling $230M in dubious financial products

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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 codefendants — regulators say Whitlow, AAI and another AAI executive sold at least $180.6 million in securities…

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