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Fraud
Johnson County woman guilty of securities fraud
January 7, 2010
Wanda Robertson was sentenced to eight years in prison, with four years suspended, after pleading guilty Wednesday.
MoreEx-investor sentenced in Indiana mortgage fraud
January 5, 2010
IBJ Staff and Associated PressRobert A. Penn, 44, of Naples, Fla., received seven years in prison and was ordered to pay more than $11 million in restitution.
MoreIBJ, Wall Street Journal seek unsealing of Durham records
January 5, 2010
Greg AndrewsIndianapolis Business Journal and The Wall Street Journal have joined the legal fight to unseal search
warrant documents related to the federal investigation of businessman Tim Durham.
MoreWould-be buyer: Durham double-dipped on Duesenberg deal
December 30, 2009
Andrea Muirragui DavisTim Durham struck a deal to sell a vintage Duesenberg for $1 million before auctioning off the same vehicle for $2.9 million,
according to the small-town Michigan mayor who said he agreed to buy it.
MoreFair Finance's past gave investors, regulators false comfort
December 26, 2009
Greg AndrewsThe Akron company had been meeting its obligations for decades before Tim Durham acquired it seven years ago.
MoreFair Finance investors file additional fraud suit
December 22, 2009
Greg AndrewsMore than three dozen residents of a northeast Ohio county who invested in Fair Finance Co. are seeking to recover more
than $2.1 million from the shuttered company.
MoreBuyer of prized Durham Duesenberg alleges fraud
December 19, 2009
Greg AndrewsA Virginia businessman is suing Tim Durham, alleging he and other defendants manipulated the September auction of a 1930 Duesenberg
that sold for $2.9 million.
MoreLocal funeral home operator interested in troubled Memory Gardens
December 16, 2009
Scott OlsonIndianapolis-based Wilson St. Pierre Funeral Service & Crematory is one of two companies that have emerged as potential
suitors of the embattled Memory Gardens Management Corp.
MoreFederal filing lists another link between Brizzi, Durham
December 12, 2009
Greg AndrewsA federal financial-disclosure statement Brizzi submitted in May lists the politician as an investor in Red Rock Pictures
Holdings Inc., a film-development firm also backed by Durham.
MoreSymons and family ordered to pay $34.2 million in fraud case
December 1, 2009
Scott OlsonA high-profile businessman and the Indianapolis companies he operated with family members have been ordered by a federal judge
to pay $34.2 million relating to the fraudulent transfer of assets in a business sale.
MoreRokita builds rep as tough enforcer of securities laws
November 14, 2009
Peter SchnitzlerSecretary of State Todd Rokita has relied on fines and fees to greatly increase his office's firepower without a tax hike.
MoreState charges Stifel Nicolaus didn't disclose risks of auction-rate securities
October 1, 2009
IBJ StaffAn administrative complaint filed today by the Indiana Secretary of State's Office alleges Stifel Nicolaus failed to disclose
risks associated with the sale of auction-rate securities to 141 Hoosiers who invested $54.9 million.
MoreCharter Homes owner gets 2-plus years for mortgage fraud
September 30, 2009
Cory SchoutenCharter Homes owner Jerry J. Jaquess has been sentenced to two-and-a-half years in prison and ordered to pay restitution of
$825,000 for his role in a $20 million mortgage fraud scheme.
MoreLondon hedge fund sues Brightpoint over failed acquisition
September 30, 2009
Peter SchnitzlerA London-based hedge fund has sued Brightpoint Inc. over a $10 million loan it alleges the Indianapolis-based cell phone distributor
fraudulently brokered in anticipation of an acquisition in France that never materialized.
MoreEx-Lampoon exec Dan Laikin admits to stock fraud
September 23, 2009
Greg AndrewsCarmel businessman Dan Laikin pleaded guilty this afternoon to participating in a fraudulent scheme to pump up the stock price
of National Lampoon Inc., the Los Angeles-based entertainment company he led.
MoreFormer business owner Hockett sentenced for bank fraud
August 31, 2009
Scott OlsonA federal judge this morning sentenced a former Indianapolis business owner to 18 months in prison after he pleaded guilty
to bank fraud in May.
MoreMarcus Schrenker gets prison sentence
August 24, 2009
IBJ Staff and Associated PressThe Indianapolis money manager who crashed his plane and parachuted to safety in an elaborate scheme
to fake his death and flee financial ruin, has been sentenced to more than four years in federal prison.
MoreDodson Group hit crisis mode after trusted CFO suspected of theft
August 24, 2009
Peter SchnitzlerAt first, small-business owner Jim Dodson figured the problem must be a technical glitch. During a routine analysis of
aging unpaid invoices last September, one of his employees couldn’t tie the latest figures to the company’s ledger.
Accounts receivable for his company,
the Dodson Group, had been overstated by $2.7 million—double their true value. And $422,539 was missing from the firm’s
coffers.
MoreSchrenker faces nine more charges in Indiana
August 19, 2009
IBJ StaffAn Indiana money manager scheduled to be sentenced today in Florida on charges he deliberately crashed his plane to fake his
death and flee financial ruin now faces more charges in his home state.
MoreBREAKING: Jury finds Premier's White guilty
August 18, 2009
Cory SchoutenA Marion County jury this evening found Christopher P. White guilty of three Class C felonies related to a $500,000 bad check
he wrote last year in a last-ditch attempt to save his locally based development firm, Premier Properties USA Inc.
MoreDodson Group CFO to plead guilty to wire fraud
August 18, 2009
Scott OlsonA former chief financial officer for The Dodson Group has agreed to plead guilty to wire fraud after admitting to stealing
$422,539 from the Indianapolis-based firm.
MoreDeveloper's fraud trial enters second day
August 18, 2009
Cory SchoutenMarion County prosecutors this morning began making their case that Christopher P. White knowingly wrote a bad check for $500,000
last year in a desperate attempt to save his Indianapolis-based development firm, Premier Properties USA Inc.
MoreFirst Merchants posts larger loss on fraud charge
August 6, 2009
Scott OlsonMuncie-based First Merchants Corp. disclosed this week that the bank lost $31.2 million in the
second quarter, including $10.2 million it blamed on fraudulent financial statements provided by a large commercial borrower.
MoreCemetery owner to plead guilty to theft, fraud
July 30, 2009
Scott OlsonA cemetery owner set to go on trial Monday has agreed to plead guilty to theft and securities fraud.
MoreDan Laikin on sidelines as others admit guilt in stock-manipulation scheme
April 27, 2009
Greg AndrewsCarmel businessman Dan Laikin finds himself in the awkward spot of denying wrongdoing at the same time the three men accused
of conspiring with him in a stock-manipulation scheme are admitting guilt.
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Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.
Does the buyer get to keep the recent Accu-Chek J.D. Power award? Be careful, those Swiss cannot be trusted. Last June they pimped Mayor Ballard and former Governor Daniels at a media op, announcing plans to invest "$300 million at its Indianapolis headquarters, creating up to 100 new jobs by 2017," only to turn around and close the Roche Nutley, NJ facility and eliminate 1000 jobs there later the same week. It seems that healthcare can be innovated only as long as money is to be made. Right now Roche seems to have big eyes for China: there are many Chinese in China and potential billions in Swiss francs! Since Roche is having difficulty with US insurance companies swallowing the bill for overpriced cancer drugs (with debatable efficacy) why not sell insurance to the Chinese and market the drugs to them there? There is a name for these sort of business practices however proper decorum precludes it use in this forum.
Same kind of Luddites who oppose I-69. Guessing their 501(c)(4) application probably sailed right through the IRS.