Around Indiana and the nation in recent weeks, special purpose acquisition companies, or SPACs, are shutting down and returning money to investors. In other cases, investors are taking a bath.
Read MoreMadoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations. But his investment advisory business was exposed in 2008 as a multibillion-dollar Ponzi scheme that wiped out people’s fortunes and ruined charities and foundations.
Indie Asset Partners customers are upset that the hedge fund, which was supposed to spread out funds to dozens of money managers, instead concentrated the money with a single manager whose performance tanked early last year.
David A. Noyes & Co. has helped raise money for companies—including Indianapolis-based Digonex Technologies Inc. and Fishers-based SteadyServ Technologies LLC—by persuading its clients to invest. But such investments, known as private placements, are risky by nature—and Noyes’ clients have not always been happy with the results.
The steady-and-not-so-slow-anymore returns for cash, plus expectations for even more market volatility in 2019, means strategists along Wall Street are seeing cash as a viable investment option for the first time in years.
Merrill Lynch terminated Buck in 2015, citing “loss of confidence” in him after 34 years at the firm.
It’s not clear whether the bull or the bear will prevail in 2019, so financial planners are counseling clients to expect volatility and take advantage of it, if that meets their long-term strategies.
Without a big settlement, or a resounding victory at trial, victims in the fraud would be left with an underwhelming recovery—currently 11 cents on the dollar, based on distributions of $18 million in December 2015 and $5 million last October.
CEO Mark Zuckerberg’s fortune tumbled Wednesday as Facebook shares fell 20 percent in after-hours trading.
Under the terms of the plea agreement, Kenneth Ray Cleveland of suburban Los Angeles is required to make restitution to former Colt Cory Redding.
Former Enron CFO Andy Fastow, who was sentenced to six years in prison for his role in the Enron scandal, is expected to tell local financial analysts how the fraud unfolded and what he learned from the experience.
The Dow Jones industrial average briefly plunged nearly 1,600 points Monday, definitively ending a record-setting period of calm in the U.S. stock market.
Many fund managers and analysts say they’re optimistic stocks can keep rising, even if interest rates continue to climb.
In an attempt to reopen his case, Keenan Hauke says Barnes and Thornburg partner Larry Mackey—who is now married to Hauke’s ex-wife—did not adequately represent him.
Stephen Schuyler pleaded guilty earlier this month to 15 felony counts, including theft.
A prominent Indianapolis family that filed a complaint against an RBC Wealth Management broker seeking nearly $20 million in damages recently accepted $3.5 million to resolve the dispute.
Officials overseeing endowments at some of Indiana’s colleges and universities have cut back on spending, or are considering doing so, after struggling to grow their funds over the past decade.
The state has settled with NYLife Securities LLC over the activities of an Indiana wealth manager with an extravagant lifestyle who killed himself while being investigated for operating a Ponzi scheme that took millions of dollars from dozens of investors.
FINRA permanently banned a former stockbroker from practicing in the securities industry after he refused to testify about an ongoing civil Ponzi scheme suit.
Prosecutors accused Platinum Partners of carrying out a $1 billion fraud that included setting up an affiliate to bamboozle institutional investors—including CNO Financial Group—into investing in the teetering hedge fund.
Rick D. Snow—who was convicted in 2012 of helping Tim Durham and Jim Cochran loot Fair Finance Co. but didn’t raid the company’s coffers himself—is seeking to get his 10-year sentence reduced.
