Standard & Poor's has agreed to pay about $1.38 billion to settle government allegations that it knowingly inflated its ratings of risky mortgage investments that helped trigger the financial crisis.
The men who engineered the scams now are in federal prison. Meanwhile, Gale Prizevoits, who served as Ball State’s director of cash and investments from 2006 until her firing in 2011, stands disgraced but hasn’t been charged.
John K. Marcum, 50, was taken into custody Thursday after a federal grand jury indicted him on charges of criminal wire fraud, securities fraud and money laundering.
Timothy Coughlin, 63, of Indianapolis was ordered to pay $10 million in restitution at sentencing Friday in federal court. Prosecutors say 5,000 investors from 50 countries and all 50 states made deposits to his fake credit union.
Robert E. Wilson, 54, who operated locally based Wellington Institutional Management LCC, was charged in Marion County Court with 10 counts of securities fraud and 10 counts of being an unregistered broker-dealer.
Christ Church Cathedral has filed a federal lawsuit against JPMorgan Chase, alleging the bank’s “intentional mismanagement” and “self-dealing” led to $13 million in losses in church trust accounts endowed in the 1970s by Eli Lilly Jr.
DeWitt & Shrader PC, an Indianapolis-based accounting firm that worked for convicted Ponzi schemer Keenan Hauke, has agreed to settle a state lawsuit, Indiana Secretary of State Connie Lawson announced Tuesday.
Indianapolis attorney Deborah Daniels will scrutinize what happened to $13.1 million.
The bankruptcy trustee who has been trying to scrape together money for victims of Indianapolis financier Tim Durham’s Ponzi scheme just struck two lawsuit settlements that underscore the daunting obstacles he faces.
Ball State Treasurer Randy Howard told The Star Press he doesn't know whether that failure involved deception by anyone at the university, lack of due diligence or both.
A Brooklyn, N.Y., man was sentenced to three years in prison for his role in an investment fraud scheme that cost Ball State University $13.1 million.
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.
An investor-relations firm founded by an Indianapolis native allegedly helped insiders of a biotech firm to hype its stock on financial sites, then sell their own shares on the bump.
An attorney for Rick Snow says the executive agreed to the deal because he lacked the money to fight the suit, not because he actually has the money.
Five years after the crash, the luster of hedge funds isn’t what it used to be.