Ex-investors plead guilty to mortgage fraud
Two former real estate investors have pleaded guilty to federal charges that they set up straw deals to obtain inflated
mortgages on more than 100 Indianapolis houses.
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Underage alcohol program nabs 370 retailers
An Indiana State Excise Police initiative that uses underage customers to catch retailers selling alcohol to people under
age 21 netted more than 370 violations across Indiana in only three months.
‘Godfather’ game-maker sued over ‘Dillinger Tommy Gun’
The Mooresville-based company that owns John Dillinger’s publicity rights has made an “offer” of sorts
that the Godfather can’t refuse.
Lilly settles Zyprexa suit with S. Carolina
Eli Lilly and Co. has agreed to settle the State of South Carolina’s lawsuit that claimed Lilly improperly marketed the antipsychotic
drug Zyprexa, according to Bloomberg News.
Trial delayed for money manager Schrenker
An Indiana judge has delayed until March the trial on securities fraud charges of a former money manager who tried to fake
his own death by jumping from a small plane before it crashed in Florida.
State charges Stifel Nicolaus didn’t disclose risks of auction-rate securities
An administrative complaint filed today by the Indiana Secretary of State’s Office alleges Stifel Nicolaus failed to disclose
risks associated with the sale of auction-rate securities to 141 Hoosiers who invested $54.9 million.
Charter Homes owner gets 2-plus years for mortgage fraud
Charter Homes owner Jerry J. Jaquess has been sentenced to two-and-a-half years in prison and ordered to pay restitution of
$825,000 for his role in a $20 million mortgage fraud scheme.
London hedge fund sues Brightpoint over failed acquisition
A London-based hedge fund has sued Brightpoint Inc. over a $10 million loan it alleges the Indianapolis-based cell phone distributor
fraudulently brokered in anticipation of an acquisition in France that never materialized.
Greenwood man admits stealing cemetery funds
A man admits embezzling about $4.2 million in perpetual-care trust funds from a Michigan cemetery operated by his Indianapolis-based
company.
Widow likely biggest beneficiary of Simon’s estate
Bren Simon likely will inherit at least one-third of her billionaire husband’s fortune and potentially much more,
wealth managers speculate, based on the legal and tax issues involved in such a large estate.
Lilly’s win in Evista patent case crucial, analyst says
A decision by a federal judge in Indianapolis to turn back a patent challenge to Eli Lilly and Co.’s Evista marks a major
victory for the company, says an analyst who closely follows the pharmaceutical industry.
Ex-Lampoon exec Dan Laikin admits to stock fraud
Carmel businessman Dan Laikin pleaded guilty this afternoon to participating in a fraudulent scheme to pump up the stock price
of National Lampoon Inc., the Los Angeles-based entertainment company he led.
Developer Broadbent sues banks after they tighten credit line
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re
wrongly attempting to restrict its access to a $50 million credit line.
Schrenker held on $4 million bond after not-guilty plea
Jailed former money manager Marcus Schrenker has been appointed a public defender after telling an Indiana magistrate he has
no home and that the government has frozen all his assets.
Schrenker in Indiana to face fraud charges
An money manager who tried to fake his own death in a Florida plane crash will make a video appearance in court to face Indiana
felony charges stemming from his financial dealings.
On the hook for bariatric surgery
An Indiana Court of Appeals ruling favoring an obese employee is likely to make employers think twice about hiring
overweight people.
Indiana Supreme Court to review library project lawsuit
The Indiana Supreme Court will decide whether engineering subcontractors should be held liable for millions of dollars in
cost overruns in a recent renovation of Indianapolis’ central public library.
Judge refuses to reduce bond in church fraud trials
An Indiana judge today declined to reduce the $1.5 million cash bonds for a former pastor and his sons charged with bilking
church members nationwide out of millions of dollars.
Report: Ice Miller, Louisville firm end merger talks
Merger talks that began last year between local legal heavyweight Ice Miller LLP and a Louisville-based law firm reportedly
have broken down, putting an end to a deal that was expected to close by the end of the year.
Feds: Woman indicted in Indianapolis was high-class grifter
Authorities say socialite Dina Wein Reis’ success was the result of an elaborate scam in which she tricked large corporations—including
Indianapolis-based Roche Diagnostics Corp.—into selling her millions of dollars worth of goods at a fraction of the
regular price for use in nonexistent promotions. She then resold the products at a hefty profit.