Investing

Stock market plunges as multiple worries vex investors

July 31, 2014
Associated Press
The stock market fell in early trading after a dose of bad earnings news, and the losses accelerated throughout the day. The three major indexes suffered their biggest losses in months.
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Fed offers no clearer hint on first rate increase

July 30, 2014
Associated Press
The Federal Reserve is further slowing the pace of its bond purchases because it thinks an improving U.S. economy needs less help. But it's offering no clearer hint of when it will start raising its benchmark short-term interest rate.
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Mitchell departs state job for treasurer's race

July 28, 2014
Associated Press
Kelly Mitchell announced Friday she was leaving her job as an investment director in the state treasurer's office Aug. 1.
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Hauke accounting firm to pay $1.8M in fraud settlement

July 22, 2014
Jeff Newman
DeWitt & Shrader PC, an Indianapolis-based accounting firm that worked for convicted Ponzi schemer Keenan Hauke, has agreed to settle a state lawsuit, Indiana Secretary of State Connie Lawson announced Tuesday.
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WellPoint stock ascends to a record $110 per share

July 12, 2014
J.K. Wall
Indianapolis-based WellPoint saw its shares close July 9 at $110.87 per share, compared with less than $85 just five months ago.
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Ball State hires prosecutor to review investment fraud

July 11, 2014
Associated Press
Indianapolis attorney Deborah Daniels will scrutinize what happened to $13.1 million.
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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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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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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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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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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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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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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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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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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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Adviser who swindled Ball State out of $8M gets 4 years

June 6, 2014
Bloomberg News
Seth Beoku Betts persuaded the university to give him money to invest in collateralized mortgage obligations. His attorney say he lost the money through bad investments, but prosecutors say he spent much of it on himself, including buying a $1.5 million home in Florida.
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HHGregg’s board is bullish, but analysts remain skittish

May 31, 2014
Greg Andrews
The company scarfed up $49 million of its stock under a buyback program that ran from May 2013 to May 2014. And last month, the company launched a new buyback program, this one for $40 million.
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  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

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