Investing

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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Stock tied to IPO catapults pay for Springleaf execs

May 24, 2014
Two executives with the Evansville-based lender received big stock awards in connection with the company's IPO. The awards put the pair No. 1 and No. 2 on IBJ's list of highest-paid Hoosier executives.
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Interactive's stock drop shows vagaries of Wall Street

May 24, 2014
Greg Andrews
The greater success Interactive Intelligence enjoys transitioning customers to the cloud, the greater the drag on short-term results.
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Executive pay continues on upswing

May 24, 2014
Dan Human
The median senior executive collected $923,705 in salary, stock or stock options, incentive pay and perks in 2013, IBJ found in a review of proxy statements at 64 companies.The median compensation rose 20 percent from 2012 and doubled since 2006.
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Lilly Endowment sells Lilly stock for first time since '08

April 29, 2014
 IBJ Staff
Indianapolis-based Lilly Endowment sold 150,000 shares of Eli Lilly and Co. stock on Monday, resuming a short-lived asset diversification plan suspended when stock prices swooned in 2008.
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City controller floats idea to change retirement plans

April 23, 2014
Kathleen McLaughlin
If the plan is carried out, new city employees wouldn't be eligible for pensions through the Indiana Public Retirement System. Instead, they would have a defined-contribution plan similar to the 401(k) plans offered by private-sector employers.
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Mainstreet aims to help finance nursing home through crowdfundingRestricted Content

April 19, 2014
J.K. Wall
Mainstreet Property Group LLC plans to launch a new round of private placement fundraising on April 21 using a website run by Oregon-based CrowdStreet Inc. and a mix of traditional advertising in central Indiana.
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Local private equity firm unveils $316M investment fund

April 16, 2014
Dan Human
Hammond Kennedy Whitney & Co. plans to use its biggest-ever fund to target mid-sized companies in the medical, infrastructure and energy sectors.
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Hot market for IPOs could be cooling off

April 14, 2014
Associated Press
IPOs are having their best start to a year since 2000. But signs of weakness have appeared recently as stocks became more volatile.
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Feds sue Indianapolis man over fictional credit union

April 14, 2014
Chris O'Malley
An arrest warrant has been issued for Tim Coughlin, who has been accused of running a Ponzi scheme that collected $12.8 million from investors. In 2008, he proposed creating a 20-story balloon ride at White River State Park.
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Savers beware: Fees may be shrinking your 401(k)

April 11, 2014
Associated Press
A new study finds that the typical 401(k) fees — adding up to a modest-sounding 1 percent a year — would erase $70,000 from an average worker's account over a four-decade career compared with lower-cost options.
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Trailer parks lure ex-traders eyeing double-wide returns

April 10, 2014
Bloomberg News
Former hedge-fund executives who left Wall Street are finding new ways to milk profits from old trailer parks, including one in Indianapolis.
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Lilly stock shows little impact from $3B court award

April 8, 2014
Eli Lilly and Co.’s stock showed little change Tuesday morning in the wake of a federal court decision that saw jurors order the company to pay a massive damage award related to its Actos diabetes medicine.
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Bank merger that looked conflict-free goes off the railsRestricted Content

April 5, 2014
Greg Andrews
Carmel-based Merchants Bancorp announced in May 2013 that it would merge into Mooresville-based CITBA Financial Corp.—a deal initially so warmly received by CITBA shareholders that the company’s stock shot up 87 percent.
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Software firm TinderBox lands $3M VC investment

March 26, 2014
Dan Human
Indianapolis software developer TinderBox Inc. plans to fuel product development and build up its sales and marketing teams after receiving $3 million in venture capital.
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