Banking & Finance

Ex-Hoosier funnels millions back home to local tech firms

July 5, 2014
Dan Human
West Coast investor Parker Hinshaw and his wife, Jean Balgrosky, in 2012 founded San Diego investment firm Bootstrap Incubation LLC and in 2013 the Bootstrap Venture Fund, which have funded three Indiana companies in less than a year. A fourth deal is about to close.
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Tech firms get chance to pitch investorsRestricted Content

July 5, 2014
Seventy-six startups and small tech companies will vie for investors’ interest July 10 at the Innovation Showcase.
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Durham victims wait and wait, as quest for cash continues

July 5, 2014
Greg Andrews
The bankruptcy trustee who has been trying to scrape together money for victims of Indianapolis financier Tim Durham’s Ponzi scheme just struck two lawsuit settlements that underscore the daunting obstacles he faces.
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Dow Jones index tops 17,000 after strong jobs report

July 3, 2014
Bloomberg News
The Dow Jones industrial average climbed above 17,000 for the first time ever Thursday morning. The Standard & Poor’s 500 also hit an all-time high.
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IU students get more information, borrow less

July 3, 2014
Bloomberg News
A simple letter from Indiana University led its students to reduce borrowing by far more than the national average last academic year. Federal undergraduate Stafford loan disbursements at the university dropped 11 percent, or $31 million.
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State firms up crowdfunding rules for businesses

July 1, 2014
Dan Human
Indiana firms can use the Internet to raise up to $2 million in a single securities offering, and Hoosiers can invest up to $5,000 each online, according to new state rules.
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Breweries turn to outside investors to underwrite growth

June 28, 2014
Dan Human
Six breweries and two distilleries in Indiana have sought outside investments since January 2013, a few of them multiple times, federal records show. That’s up from just one brewery in both 2009 and 2010.
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High court sides with Fifth Third employees in dispute

June 26, 2014
Associated Press
The U.S. Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock.
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Ball State fraud involved failed internal controls

June 25, 2014
Associated Press
Ball State Treasurer Randy Howard told The Star Press he doesn't know whether that failure involved deception by anyone at the university, lack of due diligence or both.
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Indiana man pleads guilty in fake credit union case

June 25, 2014
 Associated Press and IBJ Staff
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
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Investors in church-related fraud to get most of their money

June 24, 2014
Associated Press
Investors will get 70 cents for every dollar they invested in an $85 million Ponzi scheme operated by a fundraising branch of the Church of God.
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Archivist: IRS didn't follow law with lost emails

June 24, 2014
Associated Press
The Internal Revenue Service did not follow the law when it failed to report the loss of records belonging to a senior IRS executive, the nation's top archivist told Congress on Tuesday.
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IRS head says no obstruction of Congress in probe

June 23, 2014
Associated Press
The head of the Internal Revenue Service brushed aside accusations Monday that the agency has obstructed investigations into the targeting of tea party and other political groups, even as Republican lawmakers questioned his credibility.
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Record number of Hoosier upstarts hunt for investorsRestricted Content

June 21, 2014
Dan Human
Indiana companies are lining up for private investments in record numbers—a trend driven by the growth of dozens of Indianapolis technology companies that have left the startup stage and want to quickly hire and expand.
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INDIANA 100: Indiana public companies turned in contrasting performancesRestricted Content

June 21, 2014
Kathleen McLaughlin, Chris O'Malley, Scott Olson, Anthony Schoettle
Profit shot up for some, while others fought setbacks.
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Audit finds 'intentional misuse' of funds by Elevate Ventures

June 19, 2014
Dan Human, Associated Press
The Office of the Inspector General of the U.S. Treasury Department says Elevate Ventures “intentionally misused” almost $500,000 in taxpayer funds when the state contractor invested in a company run by its board chairman.
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Sports memorabilia forfeited to help repay Ball State

June 19, 2014
Associated Press
A New York City man who pleaded guilty to wire fraud for his role in an investment fraud scheme that cost Ball State University $3.8 million has agreed to forfeit a baseball jersey autographed by Mickey Mantle and boxing gloves autographed by Mike Tyson.
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Fed slows bond buying with fifth monthly reduction

June 18, 2014
The Federal Reserve will further slow the pace of its bond purchases because a strengthening U.S. job market needs less support.
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Dems look to downtown funds for Rebuild Indy alternative

June 18, 2014
Kathleen McLaughlin
City-County Council Democrats on Wednesday morning unveiled an alternative to the mayor's infrastructure-spending plan. It would involve less borrowing and use money in the downtown TIF fund.
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Investors to seek clues from Fed on rate increase

June 18, 2014
Associated Press
The Fed will likely approve a fifth cut in its monthly bond purchases because the job market has strengthened. But no clear signal is expected on when it will start raising short-term interest rates from record lows.
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Second man serving time in Ball State fraud scandal

June 17, 2014
Associated Press
A Brooklyn, N.Y., man was sentenced to three years in prison for his role in an investment fraud scheme that cost Ball State University $13.1 million.
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Ball State bilked in 2nd scheme for $5 million

June 16, 2014
Associated Press
Ball State University lost $5 million in an investment fraud scheme in addition to the $8.1 million scheme announced last week.
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Ball State says feds asked for quiet about fraud

June 12, 2014
Associated Press
A top Ball State University administrator said the school kept quiet for more than two years about an $8 million securities fraud at the request of federal law enforcement authorities.
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Former CEO sentenced for federal tax evasion

June 10, 2014
 IBJ Staff
Joseph C. Scott, 54, the former CEO at KSM Profit Advisors LLC, was convicted of underreporting his income taxes from 2005 to 2009, resulting in unpaid taxes of nearly $600,000.
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Ponzi scheme leader gets 10 years in prison

June 10, 2014
 IBJ Staff
Rudolf "Rudi" Pameijer, a former Johnson County insurance agent who pleaded guilty to scamming $1.8 million from two dozen investors, was sentenced Monday to 18 years in prison, with eight of those years suspended.
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  1. I never thought I'd see the day when a Republican Mayor would lead the charge in attempting to raise every tax we have to pay. Now it's income taxes and property taxes that Ballard wants to increase. And to pay for a pre-K program? Many studies have shown that pre-K offer no long-term educational benefits whatsoever. And Ballard is pitching it as a way of fighting crime? Who is he kidding? It's about government provided day care. It's a shame that we elected a Republican who has turned out to be a huge big spending, big taxing, big borrowing liberal Democrat.

  2. Why do we blame the unions? They did not create the 11 different school districts that are the root of the problem.

  3. I was just watching an AOW race from cleveland in 1997...in addition to the 65K for the race, there were more people in boats watching that race from the lake than were IndyCar fans watching the 2014 IndyCar season finale in the Fontana grandstands. Just sayin...That's some resurgence modern IndyCar has going. Almost profitable, nobody in the grandstands and TV ratings dropping 61% at some tracks in the series. Business model..."CRAZY" as said by a NASCAR track general manager. Yup, this thing is purring like a cat! Sponsors...send them your cash, pronto!!! LOL, not a chance.

  4. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

  5. Funny thing....rich people telling poor people how bad the other rich people are wanting to cut benefits/school etc and that they should vote for those rich people that just did it. Just saying..............

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