Criminal investigations of former Ball State investment director Gale Prizevoits by federal prosecutors and the Indiana Secretary of State also produced no charges.
Timothy Durham was convicted in 2012 for his role in a Ponzi scheme that defraud investors in Fair Finance Co. of more than $200 million. He is currently serving a 50-year federal prison sentence.
A dozen funds that responded to requests for their returns for the first six months of fiscal 2016 showed an average loss of 3.8 percent. Indiana University’s loss was even larger.
The deal is a result of an investigation into the sale of mortgage-backed securities in Indiana and losses suffered by the Indiana State Teachers’ Retirement Fund.
U.S. stocks fell in midday trading Thursday, with the Dow Jones Industrial Average losing more than 300 points, as investors shunned risk worldwide.
Robert E. Wilson of Indianapolis originally faced up to eight years in prison on 20 securities-related felony counts. Under a plea agreement, he’ll serve six months probation on one misdemeanor count.
Former Merrill Lynch broker Thomas J. Buck used to generate millions of dollars in annual revenue for the brokerage giant. But lately, he’s been costing it millions. Merrill Lynch has paid more than $4.1 million in settlements related to Buck’s alleged misconduct since firing him in March.
The receiver appointed to recover investor losses from an alleged Ponzi scheme said he’s retrieved in five months about 20 percent of what investors were owed, a figure experts say is relatively high at this stage for such cases.
Sydney "Jack" Williams is at risk of going to jail for the second time since he avoided charges in a massive Ponzi scheme run out of Miami.
John K. Marcum, 51, of Fishers, received a 66-month sentence and was ordered make restitution of $3.9 million to 17 victims, including several who lost their life savings.
A wave of fear triggered by instability in China initially doused U.S. stocks on Monday morning, but then quickly receded by noon.
When Judge Jane Magnus-Stinson sentenced Durham to 50 years in 2012, she said there was no point to handing down a sentence that was a multiple of his likely life span.
Bank of America Corp. faces a lawsuit by former Indianapolis Colts star defensive end Dwight Freeney, who claims the bank set him up with an unqualified private banker and her “notorious financial predator” boyfriend.
Some fund managers tweak their strategies or fees when things aren’t going so well. But don’t look for Bob Auer, the fund’s 53-year-old senior portfolio manager, to do so.