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Durham gets 50 years for fraud scheme
Former Indianapolis businessman Tim Durham was sentenced to 50 years in prison for running a Ponzi scheme that led to the collapse of Fair Finance, costing thousands of investors $250 million. Accomplices Jim Cochran and Rick Snow received 25 years and 10 years, respectively.
Fraud victims detail losses before Durham’s sentencing
A 74-year-old former nun who cares for young children to earn a living after being swindled out of her life savings and a woman whose father lost $170,000 in proceeds from the sale of his farm testified against Tim Durham and his two fraud accomplices Friday morning.
Two hurt in accident near tavern
Two people were hospitalized Friday morning following an accident in a parking lot next to 8 Seconds Saloon and a Marsh store on the west side of Indianapolis, near Lynhurst Drive and Rockville Road. An off-duty officer witnessed a sport-utility vehicle doing donuts at about 3:15 a.m. before it struck a tree and flipped over. One of the people in the vehicle was critically injured; the other is in serious condition. Police suspect alcohol may have played a role in the crash.
Man shot to death on south side
A 34-year-old Gary man was shot to death Thursday at about 9 p.m. in an apartment on the south side of Indianapolis. Two men reportedly ran from the scene in the Stone Lake Lodge complex in the 4200 block of El Lago Boulevard, near East Hanna Avenue and Rural streets. Police are investigating.
Police charge 3 in woman’s death
Police have arrested three people in connection with the death of a 76-year-old Shelbyville woman who was shot and killed in a hotel parking lot Sept. 30 while visiting Cherokee, N.C. George Nobles, 36, faces first-degree murder charges after police say he overpowered Preidt and her husband while taking her purse, then shot the woman as he got away. Ashlyn Carothers, 20, and Dwayne Edward Swayney, 43, were charged with helping Nobles. Preidt, who has seven children and 18 grandchildren, graduated from Shelbyville High School in 1954.
Fairbanks gets $1M from United Way for hospital expansion
The $2.5 million expansion will add 7,000 square feet of meeting and office space to Fairbanks’ 86-bed hospital for patients trying to recover from drug and alcohol addictions.
WOJTOWICZ: Is small-business ownership for you?
The horror stories are sobering: Dun & Bradstreet reported earlier this year that businesses with fewer than 20 employees have only a 37 percent chance of surviving four years and just 9 percent will be around 10 years.
Crews face deadline on central Indiana wind farm project
Construction crews are hustling to beat a Dec. 31 deadline to get 125 turbines in operation for a wind farm that is eventually planned to reach into four central Indiana counties.
Judge sentences Durham to 50 years
Tim Durham will likely spend the rest of his life behind bars after a federal judge on Friday sentenced the disgraced playboy and businessman to a 50-year prison term for defrauding 5,000 Ohio investors of more than $250 million. U.S. Judge Jane Magnus-Stinson said three words decribe both Durham, 50, and the crimes he committed: […]
Fairbanks to expand using United Way grant
Fairbanks, an addiction treatment center in the Castleton area, will receive $1 million from the United Way of Central Indiana to help it expand its current facilities. Fairbanks runs an 86-bed hospital as well as an outpatient center for patients trying to recover from drug and alcohol addictions. Last year, its 300-person staff served more […]
KAR Auction Services declares first dividend
Carmel-based KAR Auction Services Inc. is declaring its first quarterly dividend since going public in December 2009.
Auto parts supplier expanding Indiana operations
Tenneco Inc. plans on spending $18.5 million to expand its northeastern Indiana operations after winning a contract to supply emission-control parts to Chrysler. The manufacturer said it will hire an additional 100 workers.
Rogers to leave Duke under settlement with regulators
The settlement, which lays out a series of executive changes and employment and financial concessions, represents a rebuke to the company’s boardroom coup.
Honda gets a makeover, revamps Civic to fix flaws
Just 19 months after its Civic compact, which is manufactured in Greensburg, hit showrooms and was slammed by critics, Honda has revamped the car, giving it a sportier look and upgrading the interior.
Wabash Valley Power aggressively shifting to greener alternatives
The Wabash Valley Power Association has been reducing its dependence on energy produced from coal—from 95 percent five years ago to 54 percent today. The utility is leaning more on natural gas and even renewable-energy sources like methane from landfills and animal waste.
Anthem rolling out 401(k)-style medical benefits
Anthem Blue Cross and Blue Shield of Indiana will open a new online exchange to Indiana employers on Jan. 1, where workers could purchase medical benefits from a group of plans using a fixed sum of money given them by their employers.
DINING: At Fashion Mall, new food court outshines star tenant
First in a month-long series of reviews of late-in-the-year restaurant newcomers.
VC funds hope to help early-stage life sciences firms
Early-stage venture capital has been harder and harder to come by for life sciences companies in recent years, but two Indianapolis investors are working to raise sizable funds to help fill the gap.