Investors will receive about $3.2 million of the $9.7 million they lost in a fraud perpetrated by Keenan Hauke, a former Fishers hedge fund manager. He's in prison after admitting to hiding massive losses by creating fake account statements.
The former project manager for F.A. Wilhelm Construction Co. faces 20 years in prison for allegedly creating a fake business and billing his employer for materials, as well as making a false tax return.
An appeals court ruling has cleared the way for Fair Finance Co.'s bankruptcy trustee to revive a lawsuit against one of the company's lenders,a Fortune 500 company with extensive resources. The trustee was able to extract a $35 million settlement from another one of the company's lenders.
Donnis Mizelle, former CEO of Avon-based Hendricks Power Cooperative, defrauded the company to buy jewelry, electronics, sports tickets, and even meals for his own entertainment, according to federal charges.
Investigators said Jaime C. Lopez swindled hundreds of thousands of dollars from investors—using money he was supposed to invest to buy automobiles, make mortgage payments and pay for home landscaping.
Prominent Indianapolis developer Cornelius “Lee” Alig, who pleaded guilty to one count of theft and one count of securities fraud, received a four-year suspended sentence Monday morning and was ordered to repay victims $321,000.
Norman D'Souza, 50, of Monmouth Junction, New Jersey, conspired to get $17 million in loans illegally from a Manhattan bank and $1 million in municipal loans from Gas City in Indiana, prosecutors said.