Prosecutors say Daniel R. Fruits, 46, defrauded his former employer out of millions of dollars that he spent on real estate, cars, Rolex watches, escort services and other items.
The U.S. Supreme Court has sided with the Obama administration in upholding a rule making mortgage brokers eligible for overtime pay under federal labor law.
The top federal prosecutor in Manhattan sued Bank of America for more than $1 billion on Wednesday for mortgage fraud against Fannie Mae and Freddie Mac during the years around the financial crisis.
A Zionsville man who pushed real-estate investing schemes has been sentenced to 30 months in prison after pleading guilty to wire fraud and money laundering.
The complaint, filed in Marion Superior Court, follows a similar suit that was dismissed in federal court. Bank of America and its Countrywide unit are accused of using perjured affidavits to foreclose on homes.
The Federal Home Loan Bank of Indianapolis is suing some of the nation’s largest financial institutions to recover losses on a $3 billion portfolio of mortgage-backed securities.
Todd Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds.
His agreement with prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly
$295,000 in restitution.
Louis Simpson bilked investors of $948,500 by claiming to operate a program with the Department of Housing and Urban Development.
Charter Homes owner Jerry Jaquess fancies himself a white knight for King Park, a neighborhood once known mainly for its rampant
crime, boarded-up homes and vacant lots. But as he’s constructed a slew of homes and carriage houses there, the local
builder has stirred up several lawsuits, dozens of liens and persistent questions about whether his business is legit.
Charter Homes recruited and paid buyers to take out inflated mortgages on dozens of central Indiana homes it built, promising to manage the properties as rentals and make payments for the owners, current and former Charter business partners say.