Denny Hardin, founder of the Private Bank of Denny Hardin, indicted on 21 counts of fraud

​A federal grand jury indicted Denny Hardin Wednesday for 21-counts of fraud, including mail fraud and creating false obligations.

I profiled Hardin and his antagonistic relationship with the federal

government in a March Pitch feature story (“Don’t

Tread On Him“).

The indictment alleges that Hardin, 51, falsely claimed to be authorized by the U.S. Department of Treasury to produce and issue “bonded promissory notes,” telling his clients that the notes had monetary value when they were actually worthless. He wrote more than 2,000 notes for in excess of $100 million for himself, friends, family, and customers to pay off student loans, mortgages, cars and various other items. The indictment further alleges that Hardin charged his clients a fee for a note of $100, which he’d later increase based on the amount of debt he’d tell the client had been discharged.