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.
Investing
Articles
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.
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.
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.
PROXY CORNER: Stonegate Mortgage Corp.
Indianapolis-based Stonegate Mortgage Corp. originates, acquires, sells, finances and services residential mortgage loans in the United States.
Interactive’s stock drop shows vagaries of Wall Street
The greater success Interactive Intelligence enjoys transitioning customers to the cloud, the greater the drag on short-term results.
Stock tied to IPO catapults pay for Springleaf execs
Two executives with the Evansville-based lender received big stock awards in connection with the company’s IPO. The awards put the pair No. 1 and No. 2 on IBJ’s list of highest-paid Hoosier executives.
Executive pay continues on upswing
The median senior executive collected $923,705 in salary, stock or stock options, incentive pay and perks in 2013, IBJ found in a review of proxy statements at 64 companies.The median compensation rose 20 percent from 2012 and doubled since 2006.
Lilly Endowment sells Lilly stock for first time since ’08
Indianapolis-based Lilly Endowment sold 150,000 shares of Eli Lilly and Co. stock on Monday, resuming a short-lived asset diversification plan suspended when stock prices swooned in 2008.
City controller floats idea to change retirement plans
If the plan is carried out, new city employees wouldn’t be eligible for pensions through the Indiana Public Retirement System. Instead, they would have a defined-contribution plan similar to the 401(k) plans offered by private-sector employers.
Mainstreet aims to help finance nursing home through crowdfunding
Mainstreet Property Group LLC plans to launch a new round of private placement fundraising on April 21 using a website run by Oregon-based CrowdStreet Inc. and a mix of traditional advertising in central Indiana.
Local private equity firm unveils $316M investment fund
Hammond Kennedy Whitney & Co. plans to use its biggest-ever fund to target mid-sized companies in the medical, infrastructure and energy sectors.
Hot market for IPOs could be cooling off
IPOs are having their best start to a year since 2000. But signs of weakness have appeared recently as stocks became more volatile.
Feds sue Indianapolis man over fictional credit union
An arrest warrant has been issued for Tim Coughlin, who has been accused of running a Ponzi scheme that collected $12.8 million from investors. In 2008, he proposed creating a 20-story balloon ride at White River State Park.
Savers beware: Fees may be shrinking your 401(k)
A new study finds that the typical 401(k) fees — adding up to a modest-sounding 1 percent a year — would erase $70,000 from an average worker's account over a four-decade career compared with lower-cost options.
Trailer parks lure ex-traders eyeing double-wide returns
Former hedge-fund executives who left Wall Street are finding new ways to milk profits from old trailer parks, including one in Indianapolis.
Lilly stock shows little impact from $3B court award
Eli Lilly and Co.’s stock showed little change Tuesday morning in the wake of a federal court decision that saw jurors order the company to pay a massive damage award related to its Actos diabetes medicine.
Bank merger that looked conflict-free goes off the rails
Carmel-based Merchants Bancorp announced in May 2013 that it would merge into Mooresville-based CITBA Financial Corp.—a deal initially so warmly received by CITBA shareholders that the company’s stock shot up 87 percent.
Software firm TinderBox lands $3M VC investment
Indianapolis software developer TinderBox Inc. plans to fuel product development and build up its sales and marketing teams after receiving $3 million in venture capital.