A financial advisor from suburban Indianapolis was sentenced to 10 years and one month in prison for defrauding 67 people out of more than $7 million, according to the U.S. Attorney for the Southern District of Indiana.

Keenan R. Hauke, 41, founder of Samex Capital in Fishers, Ind., used money collected from investors for his home, a condo in Barbados and jewelry for his wife. He also used money from new clients to pay earlier clients who wanted to close their accounts.

Hauke pleaded guilty to securities fraud that he admitted happened between 2004 and 2011. He was sentenced Friday by U.S. District Court Judge Tanya Walton Pratt. He failed to invest the money as promised and lied to investors saying their money was returning a high rate of interest to dissuade them from closing their accounts. A former employee became suspicious and informed a number of investor that their money was not secure.

Hauke was ordered to make restitution of $7.1 million and to serve five years of supervised release once he is out of prison. His assets were frozen shortly after the scheme was made public.

"Today we mark the conclusion of yet another prosecution in this office's ongoing effort to combat a culture of corruption in Indiana," U.S. Attorney Joseph H. Hogsett said on Friday. "I am pleased to learn that Keenan Hauke will be held accountable for his criminal conduct."