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.
ITT Educational CEO Kevin Modany and Chief Financial Officer Daniel Fitzpatrick allegedly “engineered a campaign of deception and half-truths” to hide from investors the extent of losses ITT was suffering from student loan programs, the SEC said Tuesday morning.
The bankruptcy trustee had accused Fortress Credit Corp. of turning a blind eye to Tim Durham's Ponzi scheme because it was making millions of dollars and held first liens on the only company assets with real value.
Joseph Furando and two companies he co-owns have pleaded guilty to federal charges in a biofuels scam that became one of the largest frauds in Indiana history and bilked taxpayers and fuel buyers out of tens of millions of dollars, prosecutors said.
A Carmel financial adviser has been indicted by a federal grand jury on 66 criminal counts, including wire fraud, money laundering and securities fraud, the United States Attorney's office announced Wednesday.
Former Indy Land Bank director Reggie Walton wasn't the initial target of an undercover FBI agent who came to town in 2012. But Walton, 33, managed to talk himself into a federal indictment that could put him in prison for 20 years.