INDIANA 100: Indiana public companies turned in contrasting performances
Profit shot up for some, while others fought setbacks.
Banking & Finance
Articles
Record number of Hoosier upstarts hunt for investors
Indiana companies are lining up for private investments in record numbers—a trend driven by the growth of dozens of Indianapolis technology companies that have left the startup stage and want to quickly hire and expand.
Audit finds ‘intentional misuse’ of funds by Elevate Ventures
The Office of the Inspector General of the U.S. Treasury Department says Elevate Ventures “intentionally misused” almost $500,000 in taxpayer funds when the state contractor invested in a company run by its board chairman.
Sports memorabilia forfeited to help repay Ball State
A New York City man who pleaded guilty to wire fraud for his role in an investment fraud scheme that cost Ball State University $3.8 million has agreed to forfeit a baseball jersey autographed by Mickey Mantle and boxing gloves autographed by Mike Tyson.
Fed slows bond buying with fifth monthly reduction
The Federal Reserve will further slow the pace of its bond purchases because a strengthening U.S. job market needs less support.
Dems look to downtown funds for Rebuild Indy alternative
City-County Council Democrats on Wednesday morning unveiled an alternative to the mayor's infrastructure-spending plan. It would involve less borrowing and use money in the downtown TIF fund.
Investors to seek clues from Fed on rate increase
The Fed will likely approve a fifth cut in its monthly bond purchases because the job market has strengthened. But no clear signal is expected on when it will start raising short-term interest rates from record lows.
Second man serving time in Ball State fraud scandal
A Brooklyn, N.Y., man was sentenced to three years in prison for his role in an investment fraud scheme that cost Ball State University $13.1 million.
Ball State bilked in 2nd scheme for $5 million
Ball State University lost $5 million in an investment fraud scheme in addition to the $8.1 million scheme announced last week.
Ball State says feds asked for quiet about fraud
A top Ball State University administrator said the school kept quiet for more than two years about an $8 million securities fraud at the request of federal law enforcement authorities.
Former CEO sentenced for federal tax evasion
Joseph C. Scott, 54, the former CEO at KSM Profit Advisors LLC, was convicted of underreporting his income taxes from 2005 to 2009, resulting in unpaid taxes of nearly $600,000.
Ponzi scheme leader gets 10 years in prison
Rudolf “Rudi” Pameijer, a former Johnson County insurance agent who pleaded guilty to scamming $1.8 million from two dozen investors, was sentenced Monday to 18 years in prison, with eight of those years suspended.
Adviser who swindled Ball State out of $8M gets 4 years
Seth Beoku Betts persuaded the university to give him money to invest in collateralized mortgage obligations. His attorney say he lost the money through bad investments, but prosecutors say he spent much of it on himself, including buying a $1.5 million home in Florida.
Lender to bankrupt country club puts on suitor’s cap
The lender for the Hawthorns Golf & Country Club is an affiliate of California-based Concert Golf Partners, which hopes to convert its debt into ownership of the Fishers club.
State plans conference to examine tax structure
More than 200 local and national tax professionals and policy makers will participate in the Indiana Competitiveness and Simplification Conference on June 24 at the Indiana Government Center.
Old National scoops up Lafayette Savings Bank for $42M
The purchase of LSB Financial Corp., parent of Lafayette Savings Bank, will add $366 million in assets and five branches to Old National’s portfolio.
HHGregg’s board is bullish, but analysts remain skittish
The company scarfed up $49 million of its stock under a buyback program that ran from May 2013 to May 2014. And last month, the company launched a new buyback program, this one for $40 million.
Former Chase employee gets 16-month prison sentence
An Indianapolis woman embezzled more than $400,000 from JP Morgan Chase in an electronic-transfer scheme that lasted eight years.
HDG Mansur affiliates file Chapter 11 to halt $5.8M judgment
The judgment in a New York court stems from allegations by a Sharia fund that the affiliates stole funds. HDG argued that it charged the additional fees to rectify a billing error.
PROXY CORNER: Stonegate Mortgage Corp.
Indianapolis-based Stonegate Mortgage Corp. originates, acquires, sells, finances and services residential mortgage loans in the United States.