FBI Raid Brookville Home of Former Pickleball Rocks Owner

The Ind. Secretary of State issued a Cease and Desist in January to stop an alleged fraudulent investment scheme.

Shutterstock photo.

(Brookville, Ind.) – FBI agents executed a federal search warrant at the Brookville home of Rodney Grubbs on Wednesday.

Grubbs is the former owner of Pickleball Rocks.

In January, Indiana Secretary of State Diego Morales issued a Cease and Desist to stop an alleged fraudulent investment scheme concerning a Pickleball apparel and equipment company All About Pickleball LLC, also known as Pickleball Rocks.

The petition alleged that Grubbs, personally and through his companies, solicited investments in the form of promissory notes from investors. The notes Grubbs is alleged to have sold contained a high interest rate of 12 percent compounded monthly and contained an 18 percent penalty provision in the case of default.

As part of the scheme, Grubbs is alleged to have encouraged investors to roll over the investment into a new one, thereby avoiding default and avoiding paying any of the investors their returns.

Investigators say Grubbs used pickleball tournaments to meet and solicit investors. He allegedly told multiple investors that the slot was the last one available, which misrepresented the size and nature of the investment opportunity.

It is unknown what the FBI collected on Wednesday.

The Indiana Securities Division under the Indiana Secretary of State’s Office is actively assisting the FBI’s Indianapolis Division in an ongoing investigation. The FBI is seeking to identify individuals who may have been victims of fraud or financial misconduct related to investments made with Grubbs.

As part of this investigation, the FBI is encouraging potential victims to come forward. If you or someone you know has been affected by Rodney Grubbs’ actions, the FBI urges victims to complete a short victim information form.

“The Secretary of State’s Office is committed to ensuring transparency, accountability, and justice, especially in cases of investment fraud or misconduct.  We are working closely with the FBI to identify victims and provide access to information, support, and resources,” said Diego Morales, Indiana Secretary of State.

Identities of victims will be treated as confidential. Information provided will be used solely for investigative purposes.  To report information, please visit here.