The verdict was a huge setback for the 5,200 mom-and-pop Ohio investors who lost more than $200 million in a Ponzi scheme engineered by Indianapolis businessman Tim Durham.
Fifth Third said it had already investigated the allegations and called the fraudulently opened accounts “a limited and historical event.”
The long-term employee was sentenced to 27 months in prison after she admitted to stealing from the Indianapolis-based company, which makes the famous Bar Keepers Friend line of cleaning products.
The trustee in former Banc-Serv CEO Kerri Agee’s bankruptcy is suing her husband, Indianapolis businessman Ben Crawford, in an effort to recoup more than $1.4 million.
A federal judge in northern Ohio has set aside three weeks for the jury trial, which pits Fair Finance Co.’s bankruptcy trustee against one of Fair’s former lenders, the Fortune 500 firm Textron Inc.
Tuong Quoc Ho, 32, conducted “an elaborate scheme to defraud businesses, consumers, suppliers, financial institutions, credit card holders, credit card companies, and identity theft victims for personal monetary gain,” U.S. Attorney Josh Minkler’s office said in a statement.
Investigators say the man, who made an initial court appearance Wednesday, embezzled more than $715,000 from an Indianapolis-based company in an elaborate scheme involving at least 151 unauthorized checks.
Federal investigators say the woman admitted the funds went toward the purchase of a $605,000 home in Anderson, and that she attempted to evade law enforcement when she learned of the investigation.
Prosecutors say the 54-year-old man diverted more than $4.5 million of money from Cummins and other companies over a nine-year period.
A federal judge in northern Ohio has set aside three weeks for the jury trial, which begins Feb. 24 and pits Fair Finance Co.’s bankruptcy trustee against one of Fair’s former lenders, the Fortune 500 firm Textron Inc.
Critics of Celadon management say a deep-seated, clubby culture helped propel the Indianapolis-based trucking giant toward financial ruin.
Bert Whalen and his Oceanpointe Property Management used fake leases to dupe investors into buying run-down rental properties in Indianapolis, according to an indictment made public Friday. No charges have been disclosed against his partner, former “Fox and Friends Weekend” host Clayton Morris.
Some state lawmakers want to require paper tickets, but event organizers say they can easily be manipulated and duplicated. Digital ticketing reduces fraud, they say.
The legal situation is increasingly complex for Kerri Agee, who in March was indicted on federal fraud charges in connection with her now-defunct Westfield financial services firm.
Judge Jane Magnus-Stinson said the former attorney and tax preparer “has a complete lack of respect for the law, for the tax code, his fellow citizens and for the court.”
David Downey, 50, faces a possible prison sentence of up to six years, plus fines of up to $750,000.
A 25-year-old Fishers woman has been sentenced to nearly five years in federal prison after she pleaded guilty to identity theft and defrauding banks of more than $115,000.
After executing a search warrant at the woman’s home, investigators for the IRS found 100 debit cards in more than 80 different names.
Prosecutors say David Betner of Indianapolis misled investors by saying his company—Darepoint—was on the verge of a profit-generating buyout.
An entrepreneur accused of running a Ponzi scheme to expand a network of luxury event venues was ordered to surrender a chunk of proceeds from the sale of his $2.4 million home while retirees who invested millions of dollars in a proposed facility in Carmel pursue legal claims.
