The SEC broadly charges that two former ITT Educational Services executives concealed from investors the “extraordinary failure” of two off-balance-sheet student loan programs ITT helped set up in 2009 after the financial crisis shut down the market for traditional private education loans.
The extension gives Celadon until May 2 to file several delinquent quarterly and annual financial reports with the Securities and Exchange Commission.
The Indianapolis-based transportation company confirmed something that has been speculated for months: The trucking company is under investigation by the U.S. Securities and Exchange Commission.
The SEC in a blistering 56-page suit had charged that the pair concealed the company’s rapidly eroding financial condition and “routinely misled” the firm’s outside accounting firm, PwC. It’s not clear what the terms of the settlements were.
President-elect Donald Trump is expected to pick Sullivan & Cromwell partner Jay Clayton to run the Securities and Exchange Commission, positioning a top lawyer to banks and hedge funds to lead Wall Street’s main regulator.
FINRA permanently banned a former stockbroker from practicing in the securities industry after he refused to testify about an ongoing civil Ponzi scheme suit.
The Indianapolis financier convicted of operating a Ponzi scheme failed to persuade a federal judge to dismiss the government’s civil action against him and other convicted accomplices.
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.
Timothy E. Cook funded his personal expenses by falsely promoting stock in his Indianapolis-based cancer research firm Xytos Inc. long after it had ceased operations, according to a federal court ruling.
City Securities Corp. has agreed to pay $250,000 as part of an industry-wide settlement with the Securities and Exchange Commission over disclosure shortfalls in municipal bond offerings.
ITT Educational CEO Kevin Modany and Chief Financial Officer Daniel Fitzpatrick allegedly “engineered a campaign of deception and half-truths” to hide from investors the extent of losses ITT was suffering from student loan programs, the SEC said Tuesday morning.
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
An arrest warrant has been issued for Tim Coughlin, who has been accused of running a Ponzi scheme that collected $12.8 million from investors. In 2008, he proposed creating a 20-story balloon ride at White River State Park.
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.
Privately owned businesses in Indiana will be able to raise investments online as part of a bill on the way to Gov. Mike Pence’s desk.
As Angie’s List approaches its second anniversary as a public company, investors remain as split as ever on whether the consumer-review company is wildly overvalued or a revolutionary Internet business still in its infancy.
John K. Marcum, 49, portrayed himself as a trader and asset manager to raise more than $6 million from at least 37 investors in six states through his company, Guaranty Reserves Trust, the SEC alleges.
The SEC says the CEO of locally based biomedical firm Xytos Inc. has committed securities fraud
since 2010 by repeatedly publishing false information to investors about the company. Timothy Cook denies the accusations.
The latest high-tech disruption in the financial markets ratchets up the pressure on NASDAQ and other electronic exchanges to take steps to avoid future breakdowns and manage them better if they do occur.
City Securities Corp. has dominated the Indiana municipal bond market for decades, but the firm’s recent $580,000 settlement with the U.S. Securities and Exchange Commission could give issuers pause and competitors a foot in the door in the underwriting business.
