The founder of an Indianapolis real estate firm is accused of preying on longtime friends to help a Miami man perpetrate a
$900 million Ponzi scheme. Sydney “Jack” Williams persuaded more than a dozen Indiana investors to lend millions
of dollars at high interest rates to a food brokerage firm called Capitol Investments USA Inc.
Beleaguered home builder doesn’t appear to have funds available to pay an attorney to prepare
necessary paperwork for Chapter 7 liquidation, trustee says in court filing.
Tim Durham, the Indianapolis businessman who purchased Akron, Ohio-based Fair Finance Co. eight years ago, is facing up to
the reality he owes the company a bundle and is shoveling over assets. Nevertheless, the FBI seized some Durham vehicles on
Beleaguered financier Tim Durham acknowledges owing millions to Fair Finance and is turning over artwork and selling assets
to reduce the loan, according
to an attorney overseeing the company’s bankruptcy.
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Unsatisfied with the Hoosier Park owner’s reorganization plan, hedge funds represented by Wells Fargo Bank petition for conversion
of Chapter 11 bankruptcy into Chapter 7.
The troubles at U.S. Rubber Reclaiming demonstrate the challenges a bankruptcy trustee faces in trying to recover money for
A mix of business and personal woes have pushed Steven Carter Ross, the longtime owner and manager of the Vogue nightclub,
into personal bankruptcy. Now a judge must decide whether Ross can keep the popular Broad Ripple music venue, or if he must
sell it to satisfy his creditors and his estranged wife.