Fishers investment advisor gets 4 years for embezzlement


Former investment advisor Christopher Turean, 43, of Fishers, has pleaded guilty in federal court to wire fraud and filing a false tax return, and was sentenced to four years in prison and ordered to pay more than $6 million in restitution.

A March 28 news release from the U.S. Attorney’s Office Southern District of Indiana stated that Turean was employed as an investment advisor between September 2012 and February 2022. The victim became one of his clients in 2015, depositing their personal funds into an investment account for Turean to invest on the victim’s behalf.

According to the news release, Turean created a company called “SCNT LLC” and opened a bank account that he alone controlled. He then transferred money from the victim’s investment account to the SCNT account. 

“Turean then used the victim’s investment money to gamble and pay down a home equity loan on his house,” the news release stated. “Turean concealed his illegal activity from his employer and the victim by sending fraudulent updates describing the embezzled funds as investments in real estate.”

Turean stole $4,692,500 from the victim, according to the news release. He also failed to report that income on his taxes, filing false returns that concealed approximately $1,745,246 in taxes owed.

“Investors have a right to trust that professionals obligated to act in their best interests aren’t stealing their hard-earned money,” stated Zachary A. Myers, U.S. Attorney for the Southern District of Indiana. “This criminal used his position as a trusted professional to steal nearly $5 million and then concealed nearly $2 million in taxes owed.”

IRS Criminal Investigation investigated the case. The sentence was imposed by U.S. District Court Judge Matthew P. Brookman, who also ordered that Turean be supervised by the U.S. Probation Office for three years following his release from federal prison and pay $6,417,746 in restitution.