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Banking & Finance
State, former Colts invest in Fishers software provider
June 27, 2012
Kathleen McLaughlinThe state of Indiana and former Colts are among the lead investors in Fishers-based software provider CloudOne, the company
announced this week.
MoreHeat wave wilting corn supplies, boosting prices
June 27, 2012
Bloomberg NewsCorn supplies in the United States, the world’s biggest exporter, are declining at the fastest pace since 1996 just
as a Midwest heat wave damages the world’s largest harvest for a third consecutive year.
MoreBank of Montreal targets Midwest, Indy for growth
June 26, 2012
IBJ Staff and Bloomberg NewsBank of Montreal's 2011 acquisition of Marshall & Ilsley Corp. is finally helping it make in-roads in the U.S. Midwest. It
has identified five U.S. markets, including Indianapolis, where it aims to add new branches or make acquisitions.
MoreJudge orders Durham, Cochran jailed until sentencing
June 25, 2012
Cory SchoutenConvicted Ponzi schemers Tim Durham and James Cochran will be held in a federal prison until sentencing, while accomplice
Rick Snow will be confined under home detention, under an order issued Monday afternoon by U.S. District Judge Jane E. Magnus-Stinson.
MoreOutlook improves for Fair Finance investors
June 23, 2012
Greg AndrewsA New York firm is contacting Fair Finance Co. investors seeking to purchase their bankruptcy claims—a sign of growing
optimism that investors in the defunct business will secure a sizable recovery.
MoreShelbyville casino could exit bankruptcy in August
June 22, 2012
Bloomberg NewsA judge on Thursday approved procedures for the potential sale of the property. Bids must be accepted by July 20, and an auction
will be conducted on July 31.
MoreIU to roll out student financial literacy program
June 22, 2012
Associated PressIndiana University says its plans to offer a financial literacy program to give students the tools to complete college without
excessive debt.
MoreDurham attorney vows to appeal guilty verdict
June 21, 2012
Cory SchoutenAn attorney for convicted fraud mastermind Tim Durham vowed Thursday to appeal the case to the U.S. Supreme Court if necessary
to prove his client did nothing wrong.
MoreDurham found guilty on all counts
June 20, 2012
Cory SchoutenU.S. Attorney Joseph Hogsett hailed the jury's decision, calling the case "the most significant piece of litigation
the Southern District has seen in a generation." Tim Durham and co-defendants Jim Cochran and Rick Snow were handcuffed
and taken to the Marion County Jail.
MoreJury begins deliberations in Durham fraud trial
June 20, 2012
Cory SchoutenThe jury began deliberations Wednesday morning in the federal fraud trial of financier Tim Durham and two co-defendants.
MoreMainstreet Property affiliate stages $110M IPO
June 20, 2012
IBJ StaffMainstreet owns 18 percent of HealthLease Properties Real Estate Investment Trust, which sold 11 million shares of stock at
$10 each. The stock began trading Wednesday morning on the Toronto Stock Exchange under the ticker HLP.UN.
MoreDurham trial closing arguments provide clashing accounts
June 20, 2012
Cory SchoutenThe prosecution described Tim Durham as "the mastermind" of a Ponzi scheme, while partner Jim Cochran acted as the
front man who lied "to people's faces," and Chief Financial Officer Rick Snow served as the "backroom numbers
guy."
MoreDefense rests in Durham trial without defendants testifying
June 19, 2012
Cory SchoutenDefense attorneys in the federal fraud trial of Fair Finance executives Tim Durham, Jim Cochran and Rick Snow rested their
cases Tuesday morning after calling just one witness and introducing a handful of exhibits.
MoreProsecution rests after testimony from Fair Finance trustee
June 18, 2012
Cory SchoutenAttorneys for Tim Durham and his co-defendants are expected to start their defense Tuesday morning and wrap it up in the afternoon.
The jury is expected to begin deliberations Wednesday.
MoreDurham prosecutors wrap case with details on asset transfer
June 18, 2012
Greg Andrews, Cory SchoutenIn the weeks before an FBI raid shut down Fair Finance Co., top company executives led by Indianapolis financier Tim Durham
devised a last-ditch maneuver they hoped would persuade Ohio regulators to allow them to keep selling investment certificates.
MoreAnalysts say Angie's List on path to profitability
June 16, 2012
Chris O'MalleyIndianapolis-based Angie's List hasn’t made a profit since it was founded nearly 17 years ago. But analysts think the
company that offers consumer-written reviews of service providers is on track to become profitable in 2014.
MoreFair Finance CFO staying out of prosecutors' crosshairs
June 16, 2012
Greg AndrewsRick Snow, Fair Finance Co.'s former chief financial officer, isn't accused of collecting insider loans like co-defendants
Tim Durham and Jim Cochran. But he's facing the same felony charges.
MoreIndianapolis fastest-growing companies run the gamut
June 16, 2012
Marc D. AllanThis year's list of fastest-growing private companies in the Indianapolis area is a diverse lot, operating in industries ranging
from human resources to office furnishings to construction to home health care and games.
MoreDurham trial: Auditor expected problems at Fair Finance
June 15, 2012
Cory SchoutenThe accounting firm Tim Durham hired to review the Ohio company’s 2003 finances refused to complete an audit because of concerns
about the accuracy of its numbers and the appropriateness of its practices. The FBI raided Fair Finance in November 2009.
MoreAUDIO: Wiretaps capture Durham, co-defendants scrambling
June 15, 2012
Greg Andrews, Mason King, Cory Schouten
A series of government-recorded phone calls have provided some of the most riveting courtroom moments during
the fraud trial of Tim Durham and two co-defendants.
Trial evidence shows desperation in Fair Finance's final days
June 14, 2012
Cory SchoutenThe men who presided over Ohio-based Fair Finance were at their wits end by late 2009. In government-recorded phone calls
and intercepted e-mails introduced as evidence in U.S. District Court this week, they come across as exhausted, angry and
determined.
MoreDurham prosecutors ask to admit IBJ story as evidence
June 14, 2012
Cory SchoutenFederal prosecutors in the Tim Durham fraud trial on Wednesday sought to introduce into evidence an IBJ investigative
report from October 2009, but a judge agreed with a defense attorney and denied the request.
MoreVIDEO: Fair Finance investor's family lost $475K
June 13, 2012
Cory Schouten
Donald Russell, a retired deputy sheriff, is among the more than 5,000 clients of Fair Finance who lost big investments
with the Ohio firm. After testifying on Tuesday during the fraud trial for Fair owner Tim Durham, he shared his story with
IBJ.
No lockstep defense strategy for Durham co-defendants
June 13, 2012
Cory SchoutenTim Durham and his co-defendants in the fraud case involving Fair Finance sit on the same side of the courtroom, but that
doesn't mean their interests are always aligned.
MoreState securities regulators strike deal with E-Trade
June 13, 2012
IBJ StaffThe Indiana Securities Division has finalized a settlement with financial-services firm E-Trade following accusations that
the company misled Hoosier investors about the safety of auction-rate securities, Secretary of State Connie Lawson said Wednesday.
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It's also across the street from Fogo de Chao and Morton's....
Yep, the haters are trying to make good news bad. I guess it is hard to get people to believe the series is dying when they are gaining new sponsors.
David Copperfield! I remember watching his specials on TV when I was little.
Don't forget this is next to an MMA gym, a pawn shop, and some abandoned spaces.
Good project for Zionsville - A group who has owned the property for many years has waited and worked patiently to bring highest and best use development to a major corridor, and mix that in with the great downtown you have. Win Win. All the Best to Pittman Partners and Zionsville.