If I have a verbal contract with someone and they give me $630 dollars and I failed to honor that contract. Can there be an arrest warrant issued for

First of all.  You had a contract.  You admit that.  Whether it was oral or in writing, it was a contract.  Second, you took money and did not live up to your promise.  If the State of Indiana wants to charge you for theft, swindle, or what have you, it can.  I suspect the prosecutors in Indiana have other things to worry about, but it could happen.  People get charged with a crime for shoplifting a dollar item, and this is worse if it looks like you never intended to carry out your side of the bargain.  It is also a civil matter, it the other party to the contract wishes to sue you.  You could get charged with a crime and sued, or charged with a crime and not sued, or sued and not charged, or nothing at all could happen.  But you and everyone else reading this knows, you owe someone $630.