KAR Auction Services declares first dividend
Carmel-based KAR Auction Services Inc. is declaring its first quarterly dividend since going public in December 2009.
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Durham fate rests in judge’s hands
Convicted Ponzi schemer Tim Durham and two accomplices will find out Friday whether they will spend the rest of their lives in prison.
Prosecutors: Durham, accomplices deserve life sentences
Saying their crimes were “as serious as any financial fraud crime ever committed,” federal prosecutors re-emphasized Monday their recommendation that Ponzi schemer Tim Durham and his two accomplices deserve to spend the rest of their lives in prison.
Durham asks court for five-year sentence
Convicted Ponzi schemer Tim Durham is requesting a much shorter prison stay than the life sentence federal prosecutors want him to serve. The convicted Ponzi schemer and two associates are set to be sentenced Friday.
Pliant Ohio regulators helped clear path for Durham’s fraud
The Ohio Division of Securities allowed Fair Finance to register investment certificates even after the company stopped providing audited financials and Tim Durham drained more than $100 million from the firm through insider loans.
Executives backing push to launch pro soccer team
A group of Indianapolis business executives is laying the groundwork to launch a professional soccer team here in 2014. Members of the group won’t identify themselves, but this month they launched a website—indyprosoccer.com—seeking season-ticket commitments.
Carmel project dogged by conflict questions
An executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project was driven by conflicts of interest.
Health insurance stocks flop after Obama wins second term
Health insurance stocks sank deeper than the broader market Wednesday after President Barack Obama's re-election helped clarify the future of his health care overhaul, a sweeping law that some investors fear will pinch profits.
Investor accused of defrauding burned-down church
Federal prosecutors have filed fraud charges against an investor who they say misspent nearly $400,000 that leaders of an Indianapolis church gave him as it tried to raise more money to rebuild from a fire.
WellPoint shares droop despite profitable quarter
WellPoint Inc.'s third-quarter earnings trumped Wall Street expectations, but the health insurer's stock tumbled Wednesday after President Barack Obama won re-election, a victory that could help cement the future of his health care overhaul.
Stocks rise as investors wait for a winner
Major stock-market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election.
Speech recognition technology firm gets cash infusion
Waveform Communications LLC got its second round of funding for research and development.
Indianapolis accounting firm settles with Fair Finance trustee
Somerset CPAs PC will pay $500,000 to settle litigation brought by the bankruptcy trustee of Fair Finance Co., the Ohio-based firm that convicted financier Tim Durham used to conduct a major Ponzi scheme.
Durham lawyer balks at proposed 225-year sentence
The attorney for convicted Ponzi schemer Tim Durham argues that the presentencing report miscalculates the losses suffered by investors, includes a range of allegations that weren’t proven at trial and blames his client for events outside his control.
Indiana businessman admits guilt in 2 fraud plots
An Indiana businessman has pleaded guilty to ripping off an Iowa company and duping investors in separate fraud schemes totaling $2.3 million.
Storm will keep financial markets closed Tuesday
Stock trading will be closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading will also be closed.
Rapid rise of ExactTarget uplifting for young techies
In just over a decade, the interactive marketer has rocketed from bootstrapped startup to New York Stock Exchange-listed company with a market value of $1.5 billion.
Stocks hammered by weak earnings reports
Stocks sank sharply Tuesday morning, driving major indexes to their lowest point since early September, after big-name companies reported weak quarterly earnings and lowered their expectations for the rest of the year.
Scale Computing lands $12 million in VC funding
Scale Computing, a maker of data-storage devices that recently launched a “datacenter in a box,” has landed another $12 million in venture funding.
State going after underwriter of $5M Estridge offering
The regulatory action is an outgrowth of a falling-out between Indiana Securities owner Frank Neese and Bank of Indiana, which lost its entire $1 million investment when The Estridge Cos. collapsed.