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Investment Losses
Carmel financial adviser accused of using faith to prey on victims
April 1, 2013
Associated PressA central Indiana man banned from selling investments faces 10 securities fraud counts for allegedly using shared Christian
beliefs to dupe clients out of more than $580,000.
MoreJudge says bank can pursue suit against broker
March 15, 2013
Scott OlsonA federal judge granted Peoples Bank a victory Thursday by ruling that it can sue Stifel Nicolaus & Co. on its claims that
the broker violated the Indiana Securities Act and committed fraud.
MoreLampoon: Durham used $1M from company to pay attorney
March 4, 2013
J.K. WallFilm company once headed by Indianapolis financier Tim Durham says he transferred $1 million to his Indianapolis lawyer, John
Tompkins, while fighting federal securities fraud charges.
MoreCarmel family members accused of securities fraud
February 26, 2013
Scott OlsonThe Indiana securities division accuses Charles Blackwelder, Chad Blackwelder and Cara Grumme of defrauding elderly investors
in a scheme to sell ownership interests in rental properties.
MoreFamilies sue to recover lost investments
February 1, 2013
Associated PressA central Indiana county commissioner, his wife and members of three other families who lost more than $700,000 they invested
in businesses state officials say were shell companies are suing two men accused of orchestrating the scheme.
MoreLampoon paid for Durham’s defense, trustee alleges
January 23, 2013
Scott OlsonFair Finance bankruptcy trustee Brian Bash, charged with recovering funds for Fair investors, alleges in a court filing that
National Lampoon funded convicted Ponzi schemer Tim Durham's defense. Durham is a former CEO of the film company.
MoreREWIND: IBJ's top 10 business stories of 2012
December 26, 2012
The state's labor landscape changed, and the housing market improved. Indianapolis basked in the glow of
a flawless Super Bowl, and big-name CEOs were shown the door. IBJ's reporters and editors recall the year's
biggest stories.
Pliant Ohio regulators helped clear path for Durham's fraud
November 24, 2012
Greg AndrewsThe Ohio Division of Securities allowed Fair Finance to register investment certificates even after the company stopped providing
audited financials and Tim Durham drained more than $100 million from the firm through insider loans.
MoreInvestor accused of defrauding burned-down church
November 8, 2012
Associated PressFederal prosecutors have filed fraud charges against an investor who they say misspent nearly $400,000 that leaders of an
Indianapolis church gave him as it tried to raise more money to rebuild from a fire.
MoreChurch caught up in nightmare after life insurance scheme sours
October 27, 2012
Kathleen McLaughlinThe Lindberg Road Church of Christ in Anderson has filed for bankruptcy protection because of a failed plan to finance construction
on its properties. The plan involved buying life insurance on elderly members, with the intent to sell the policies later
on the secondary market.
MoreState going after underwriter of $5M Estridge offering
October 20, 2012
Greg AndrewsThe regulatory action is an outgrowth of a falling-out between Indiana Securities owner Frank Neese and Bank of Indiana, which
lost its entire $1 million investment when The Estridge Cos. collapsed.
MoreSEC accuses local firm of bilking investors out of $1.7M
September 26, 2012
Scott OlsonThe SEC’s complaint accuses three people of committing securities fraud by spending investor funds on luxury automobiles,
a motorcycle, a 30-foot boat, college tuition, home renovations, a wedding and a honeymoon in St. Lucia.
MoreFormer Durham exec ordered to pay $30,000
August 22, 2012
Scott OlsonFormer Obsidian Enterprises Inc. President Terry Whitesell will pay the amount as part of a settlement agreement. A bankruptcy
trustee representing investors of Fair Finance Co., owned by convicted financier Tim Durham, had sought more than $225,000
from Whitesell.
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.
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.
VIDEO: 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.
Judge, attorneys in Durham trial look for jurors untainted by media reports
June 8, 2012
Cory SchoutenA federal judge and a handful of attorneys are selecting jurors who could determine the fate of indicted financier Tim Durham
and his co-defendants. The jury-selection process, which began Friday morning, launched what's expected to be a three-week
trial over alleged wire and securities fraud.
MoreDead fugitive from central Indiana defrauded hundreds
June 4, 2012
Associated PressOregon authorities say 62-year-old Phillip Ferguson died last week from a gunshot wound to the head soon after fleeing from
two officers and an FBI agent. Ferguson vanished in 2000 after being accused of bilking more than 600 investors out of $30
million.
MoreDurham lawyer wants lifestyle out of trial
June 2, 2012
Greg AndrewsTim Durham’s attorney is hellbent on preventing prosecutors from fixating on the things that made the Indianapolis financier
a staple of TV news and gossip columns—his fancy cars, waterfront mansion and other trappings of a lavish lifestyle.
Durham's trial is set to begin on Friday.
MoreJPMorgan Chase takes fire for 'hedge,' $2 billion loss
May 12, 2012
Associated PressMore than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big
banks still do not understand the threats posed by their own speculation.
MoreHauke receiver files suit to recover $600K from Arizona investor
April 11, 2012
J.K. WallAttorney William Wendling will try to collect $1 million to $2 million from a handful of investors in Samex Capital Ponzi
scheme.
MoreEx-investment manager Hauke gets 10 years for fraud
March 23, 2012
Scott OlsonKeenan Hauke of Fishers, who pleaded guilty to securities fraud in December after costing hedge fund clients $7 million, received
a 10-year federal prison sentence Friday morning.
MoreTeachers trust fund broker reaches settlement
March 13, 2012
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, has
reached a settlement. Karandos agreed to a 75-day suspension from working in the securities industry and may pay up to $50,000
in restitution.
MoreTrustee seeks $1B from Fair Finance's lenders
February 8, 2012
Greg AndrewsFair Finance Co.’s bankruptcy trustee finally has found some deep pockets to go after in his quest to recover money
for the small-time Ohio investors who lost more than $200 million when the Tim Durham-led company failed two years ago.
MoreLatest Fair suits target Kato Kaelin, playmate, many others
February 7, 2012
Scott OlsonA former Playboy playmate, a well-known rapper and local businessmen are among the defendants in a barrage of lawsuits filed
by a bankruptcy trustee trying to collect funds for investors of Fair Finance Co., the defunct Ohio firm led by Tim Durham.
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Doug Henning!
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Magician and illusionist!
The basic idea of nice apartments with parking and retail is a good one, but this design seems overwhelmingly big/tall for Broad Ripple. The size could be disguised a bit with lots of big trees/landscaping, but the complex is too massive to blend in easily. That section of canal between College and Westfield will also need to be upgraded on both sides. Nice apartments facing onto a nice promenade with shade trees/plantings could bring together the canal towpath/Monon recreation, the outdoor seating at existing restaurants, and this project into something that upgrades the whole area. A plan for the whole stretch makes more sense than facing nice new housing onto what looks like a ditch. Is there a plan? Does the public have input? Who pays? The apartment idea seems to be reasonable, but Whole Foods is not a good idea for appropriate retail. Besides the store being physically too big, there are already Fresh Market at 54xCollege and Whole Foods in Nora for fancy groceries. Good Earth and Kroger are within walking distance of the Shell site. There are at least 7 grocery stores within a safe bike ride. Whole Foods would add nothing but traffic congestion. This design is on the right track, but there needs to be more work done to ensure that it blends in with and enhances the existing community. A project that large will set a tone for that whole part of town. It could be a real asset, but only if done right.
I did not move to Zionsville to live in Carmel. This and the subsequent developments to follow will ensure a vanilla uniformity of strip malls and apartment buildings as we seek to bring our town down to the least common denominator. We were warned before recent elections that pro-development council members would make sure their friends (landowners and developers) would be able to make their millions off of the exploitation of Zionsville. Why in God's name would we sell out the best preserved small town in the State of Indiana?