Securities watchdog bans second broker in alleged Veros Ponzi scheme
FINRA permanently banned a former stockbroker from practicing in the securities industry after he refused to testify about an ongoing civil Ponzi scheme suit.
Securities fraud
Articles
Risk-averse CNO caught up in hedge fund nightmare
A deal struck two years ago aimed at offloading the risks associated with a big block of long-term care insurance has come back to haunt the Carmel-based company in a big way.
Indiana Supreme Court disbars convicted fraudster Durham
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.
Hamilton County man to serve prison time for securities fraud
The Secretary of State's office said Steven Garland claimed to be the director of commodities trading at Goldman Sachs and solicited investment money from his victims, saying he would invest it on their behalf.
Former investment broker sentenced to one year
Ronald W. Nichter, 60, was found guilty of siphoning more than $160,000 from the investment accounts of 14 clients, including several who lived in Anderson, Pendleton, Greenfield and Shirley.
Investment broker’s plea deal erases 20 felony counts
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.
Carmel financial adviser found guilty of fraud
Prosecutors said Jamie C. Lopez used money from the retirement accounts of his victims to buy automobiles, make mortgage payments and pay for home landscaping.
Guyer settled $400,000 in Durham debts for just $35,000
Dr. Dale Guyer—who was thrust into the spotlight this week after a news report suggested his Indianapolis clinic provided HGH to Peyton Manning—borrowed heavily from convicted Ponzi schemer Tim Durham, starting in 2003.
Buck settlements cost Merrill Lynch $4.1M
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.
Veros investors out millions could recoup more than usual
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.
Investment firm owner sentenced to 5-plus years for fraud
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.
Hancock County man gets prison time for defrauding investors
A Hancock County man who defrauded 19 investors out of nearly $400,000 has been sentenced to 27 months in federal prison.
Three charged with using inside information about ExactTarget
A former JPMorgan Chase & Co. analyst has been charged with leaking insider information to his friends, including a tip about Salesforce.com’s $2.5 billion acquisition of Indianapolis-based ExactTarget Inc. in June 2013.
Business owner ordered to pay $643K for securities fraud
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.
Ball State receives restitution from man convicted of fraud
Ball State University has received about $695,000 in restitution from one of two men convicted of stealing $13.1 million from the university.
Regulators bar adviser Buck from securities industry
The Financial Industry Regulatory Authority said former top producer Tom Buck “willfully committed fraud,” partly by steering clients to commission-based accounts instead of cheaper fee-based accounts.
Ball State yet to receive any restitution in investment scam
Two men who were convicted of securities fraud after stealing $13.1 million from Ball State University have surrendered homes and sports memorabilia purchased with the money, but school officials say they haven't received any restitution.
Former Ovation CFO arrested on multiple theft charges
The former chief financial officer for Ovation Audio-Video Solutions LLC has been arrested and charged with more than 20 counts of theft for allegedly misappropriating about $600,000 in company funds for his own use.
Durham fails to convince judge to reduce 50-year sentence
Convicted Ponzi scheme leader Tim Durham appeared in federal court in Indianapolis for a resentencing hearing Friday afternoon following the September dismissal of two fraud counts by the U.S. Court of Appeals.
Justices suspend Indy lawyer who ran $19M Ponzi scheme
Indianapolis attorney Charles Blackwelder already has pleaded guilty to a real estate scam in Hamilton County that involved more than 300 elderly Hoosiers.