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Developer accused in securities fraud case

INDIANAPOLIS (WISH) – An Indianapolis man is facing 20 felony charges after officials announced on Tuesday he illegally received more than $300,000 through promissory notes from victims.

Marion County Prosecutor Terry Curry announced the charges against Indianapolis architect and real estate developer Cornelius “Lee” Alig.

Court documents note Alig was the borrower on eight promissory notes from 2008 to 2012 and received funds through false representations. Alig is accused of getting the promissory notes from property that wasn’t his and using them as collateral without permission. Officials say one of the notes was issued weeks before Alig filed for personal bankruptcy. He’s also accused of forgery.

Alig was a partner in Lockerbie Commons in Indianapolis. He is accused of using rent payments paid by office tenants for personal expenses.

The charges against Alig include:

  • Five counts of securities fraud
  • Four counts of unregistered broker-dealer
  • Four counts of unregistered securities
  • Two counts of forgery
  • Five counts of theft

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