Investment Losses – Indianapolis Business Journal

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SPACs lose their spark with deals hard to find

January 6, 2023

Around Indiana and the nation in recent weeks, special purpose acquisition companies, or SPACs, are shutting down and returning money to investors. In other cases, investors are taking a bath.

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Guilty plea made in Ponzi scheme that bilked investors of $380M

January 21, 2026 | Associated Press and IBJ Staff

Drive Planning operated an office in Fishers that was overseen by former managing partner Gerardo Linarducci, who is facing civil fraud charges from the U.S. Securities and Exchange Commission and multiple lawsuits from investors.

Infamous Ponzi schemer Bernie Madoff dies in prison

April 14, 2021 | Associated Press

Madoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations. But his investment advisory business was exposed in 2008 as a multibillion-dollar Ponzi scheme that wiped out people’s fortunes and ruined charities and foundations.

NY hedge fund’s meltdown could cost clients of Carmel investment firm millions

February 19, 2021 |

Greg Andrews

Indie Asset Partners customers are upset that the hedge fund, which was supposed to spread out funds to dozens of money managers, instead concentrated the money with a single manager whose performance tanked early last year.

Financial firm faces complaints from customers who say they were led into unsuitable investments

October 11, 2019 |

Susan Orr

David A. Noyes & Co. has helped raise money for companies—including Indianapolis-based Digonex Technologies Inc. and Fishers-based SteadyServ Technologies LLC—by persuading its clients to invest. But such investments, known as private placements, are risky by nature—and Noyes’ clients have not always been happy with the results.

Cash rules as stocks, bonds waver

January 15, 2019

The steady-and-not-so-slow-anymore returns for cash, plus expectations for even more market volatility in 2019, means strategists along Wall Street are seeing cash as a viable investment option for the first time in years.

Prosecutors want 6-1/2 year sentence for former Merrill Lynch adviser Thomas Buck

January 14, 2019

Merrill Lynch terminated Buck in 2015, citing “loss of confidence” in him after 34 years at the firm.

Investment experts: Don’t panic; look for opportunities

January 9, 2019

It’s not clear whether the bull or the bear will prevail in 2019, so financial planners are counseling clients to expect volatility and take advantage of it, if that meets their long-term strategies.

Fair Finance trustee tries for legal jackpot one last time

August 23, 2018

Without a big settlement, or a resounding victory at trial, victims in the fraud would be left with an underwhelming recovery—currently 11 cents on the dollar, based on distributions of $18 million in December 2015 and $5 million last October.

Facebook’s stock plunges as growth stalls; Zuckerberg loses $16.8B

July 26, 2018

CEO Mark Zuckerberg’s fortune tumbled Wednesday as Facebook shares fell 20 percent in after-hours trading.

Adviser admits defrauding former Colt of $4.7M

March 7, 2018

Under the terms of the plea agreement, Kenneth Ray Cleveland of suburban Los Angeles is required to make restitution to former Colt Cory Redding.

Enron fraudster to speak at investment forum in Carmel

February 12, 2018

Former Enron CFO Andy Fastow, who was sentenced to six years in prison for his role in the Enron scandal, is expected to tell local financial analysts how the fraud unfolded and what he learned from the experience.

After stomach-churning ride, Dow ends session with largest-ever point drop

February 5, 2018

The Dow Jones industrial average briefly plunged nearly 1,600 points Monday, definitively ending a record-setting period of calm in the U.S. stock market.

Investment pros staying calm after rate fears clobber stocks

February 4, 2018

Many fund managers and analysts say they’re optimistic stocks can keep rising, even if interest rates continue to climb.

Convicted fraudster accuses attorney of secret relationship with his then wife

December 21, 2017

In an attempt to reopen his case, Keenan Hauke says Barnes and Thornburg partner Larry Mackey—who is now married to Hauke’s ex-wife—did not adequately represent him.

Suspended lawyer in estate misappropriation case receives 8-year sentence

June 22, 2017

Stephen Schuyler pleaded guilty earlier this month to 15 felony counts, including theft.

Brokerage resolves complaint with Skinner family for $3.5M

June 8, 2017

A prominent Indianapolis family that filed a complaint against an RBC Wealth Management broker seeking nearly $20 million in damages recently accepted $3.5 million to resolve the dispute.

College endowments suffer ‘lost decade’

February 24, 2017

Officials overseeing endowments at some of Indiana’s colleges and universities have cut back on spending, or are considering doing so, after struggling to grow their funds over the past decade.

Indiana settles with securities firm over agent who ran Ponzi scheme

January 20, 2017

The state has settled with NYLife Securities LLC over the activities of an Indiana wealth manager with an extravagant lifestyle who killed himself while being investigated for operating a Ponzi scheme that took millions of dollars from dozens of investors.

Securities watchdog bans second broker in alleged Veros Ponzi scheme

December 20, 2016

FINRA permanently banned a former stockbroker from practicing in the securities industry after he refused to testify about an ongoing civil Ponzi scheme suit.

Feds bring charges in alleged fraud scheme that stung CNO Financial

December 20, 2016

Prosecutors accused Platinum Partners of carrying out a $1 billion fraud that included setting up an affiliate to bamboozle institutional investors—including CNO Financial Group—into investing in the teetering hedge fund.

MAY 22-28, 2026

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Tom Murphy / Special to IBJ

Q&A with Schahet Hotels CEO Jeffrey Brown about collaboration with Ball State

Dave Lindquist

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