Securities fraud

Hauke receiver files suit to recover $600K from Arizona investor

April 11, 2012
J.K. Wall
Attorney William Wendling will try to collect $1 million to $2 million from a handful of investors in Samex Capital Ponzi scheme.
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Ex-investment manager Hauke gets 10 years for fraud

March 23, 2012
Scott Olson
Keenan 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.
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Teachers 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.
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Two firms accused of bilking investors out of $1.5M

February 29, 2012
State officials have filed civil suits against Plan America LLC in Indianapolis and Rykoworks Capital Group LLC in Brownsburg, accusing them of fraud and embezzlement.
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Trustee seeks $1B from Fair Finance's lenders

February 8, 2012
Greg Andrews
Fair 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.
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Former Hoosier sentenced in Florida Ponzi case

January 12, 2012
Developer Sydney "Jack" Williams received one year in prison and a $25,000 fine for failing to report millions of dollars he received in commissions related to a Florida investment scheme.
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Feds: Hauke OK'd disastrous real estate investments

December 14, 2011
Greg Andrews
Prosecutors allege Fishers investment manager Keenan Hauke hid losses for seven years by shifting assets among accounts and using new investors’ money to fund withdrawals.
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SEC accuses Positron CEO of misleading investors

November 28, 2011
Chris O'Malley
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors' knowledge.
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Former Hoosier pleads guilty in Florida Ponzi case

September 29, 2011
Scott Olson
Former Indianapolis developer Sydney "Jack" Williams admitted to failing to report $6.4 million in income from 2004 through 2007 that he earned from Miami Beach, Fla.-based Capitol Investments, run by CEO Nevin Shapiro.
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Court upholds former pastor's fraud sentence

September 19, 2011
Associated Press
The Indiana Court of Appeals has upheld a 54-year sentence for a 67-year-old former pastor convicted of pocketing millions of dollars that investors believed would be used to build churches.
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State makes $31M settlement with securities firm

August 24, 2011
Raymond James has agreed to return $31.2 million to Indiana investors by repurchasing some auction rate securities. The firm also will pay fines totaling $63,000.
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Fair sues Shelbyville bank over sale of Durham Duesenberg

August 3, 2011
Greg Andrews
Fair Finance Co.’s bankruptcy trustee sued Shelbyville’s SCB Bank this week, charging it refuses to turn over hundreds of thousands of dollars it raised by auctioning off one of Tim Durham’s most valuable automobiles, a 1929 Duesenberg.
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Judge: Durham’s home-detention restrictions to continue

July 21, 2011
Scott Olson
A federal judge denied a request from indicted financier Tim Durham to relax the rules of his home detention. The judge also appointed a public defender for his business partner, James F. Cochran.
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Fair trustee issues subpoena for Brightpoint CEO

July 14, 2011
Cory Schouten
The Fair Finance bankruptcy trustee has subpoenaed Brightpoint Inc. CEO Robert J. Laikin as it tries to recover more than $19 million Laikin's brother borrowed from the Ohio company.
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Receiver to manage assets of Fishers money manager

June 20, 2011
Cory Schouten
A receiver will take control of assets held by Samex Capital CEO Keenan R. Hauke, a prominent Fishers money manager accused by state officials of violating securities laws.
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Businessman settles with SEC in fraud case

May 19, 2011
Francesca Jarosz
A Sheridan businessman has reached a settlement with the Securities and Exchange Commission in a case alleging he bilked investors, engaged in illegal trading practices and misappropriated funds.
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State revokes Fishers money manager's license

May 6, 2011
Scott Olson
The Indiana Secretary of State’s Office has revoked the financial advising license of Fishers money manager Keenan Hauke, who is being investigated by the office over financial irregularities involving a hedge fund he operates.
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Fishers money manager granted continuance

April 25, 2011
A Hamilton County judge agreed to delay a court hearing scheduled for Monday morning involving money manager Keenan Hauke, who is being investigated for financial irregularities involving a hedge fund he operates.
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Durham prosecutors propose case-notification plans

April 12, 2011
Scott Olson
Instead of individually notifying the 5,400 investors that Tim Durham and two business partners are accused of defrauding, prosecutors want to keep them apprised of court proceedings through websites and an automated call center.
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Fraud suspect Durham released from halfway house

April 11, 2011
Scott Olson
Fraud suspect Tim Durham was released from a halfway house on Monday, after a more thorough accounting of his finances was presented to a federal magistrate. Durham had been at the Indianapolis facility since Wednesday.
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Judge moves Durham fraud trial to next year

April 7, 2011
Scott Olson
Federal Judge Jane Magnus-Stinson on Thursday morning vacated the original trial date of May 16 and instead set jury selection for June 8, 2012. Meanwhile, lawyers for Tim Durham argued for his release from a halfway house he was sent to on Wednesday.
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Durham set for afternoon federal court date

April 6, 2011
 IBJ Staff and Associated Press
Former Indiana businessman Timothy Durham, 48, who is accused in a $200 million fraud scheme, is scheduled to appear in federal court in Indianapolis on Wednesday at 2:30 p.m.
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Convictions likely in federal Fair Finance case

March 19, 2011
Scott Olson
Defense attorneys representing indicted businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. could have a hard time convincing a jury to find them innocent. Federal prosecutors won 94.1 percent of their cases in 2009.
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Fair Finance investors likely to recover little money

March 17, 2011
Scott Olson
Authorities say Fair Finance, led by indicted businessman Tim Durham, owes 5,200 investors $230 million. But they're likely to recoup just a "teeny-tiny" fraction.
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Officials: Fair Finance largest fraud case in state's history

March 16, 2011
Scott Olson
Indictment_WatchVideoTimothy S. Durham (pictured at far left), James F. Cochran and Rick D. Snow were all arrested on Wednesday following a grand jury indictment.
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  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

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