Somerset Cloud gets name change, new majority owner
The company founded as Somerset Cloud last year has a new name, majority owner and an even higher growth curve than originally projected.
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Westfield council hears forensic investigators’ plan for reviewing city finances
Consultants from three different firms on Tuesday conducted a special presentation for the Westfield City Council about their investigation into the city’s finances and operations.
Indianapolis office manager lands 37-month sentence for embezzlement
A controller and office manager who worked for a local business consulting firm used the stolen funds to pay for a new Honda CRV, platinum jewelry and at least eight trips to a resort in Aruba.
Former downtown payroll firm owner gets six years for defrauding clients
David Downey, 51, who ran Time Payroll from 2009 to 2017, was ordered to pay back nearly $9 million for a scheme that defrauded clients in multiple states.
TurboTax maker Intuit buying Credit Karma in $7.1B deal
The agreement announced Monday would bring together the maker of TurboTax, QuickBooks and other personal finance tools with one focusing on consumers’ access to financial products, such as finding the right loan or credit card.
Former accounting manager accused of using embezzled funds on gambling, gaming
Investigators say the man, who made an initial court appearance Wednesday, embezzled more than $715,000 from an Indianapolis-based company in an elaborate scheme involving at least 151 unauthorized checks.
Former city controller Qaddoura takes gig at Katz Sapper & Miller
The position was created for former City of Indianapolis Controller Fady Qaddoura, who announced in November that he was leaving his job with the city, where he had worked for four years.
New year brings changes for small businesses
Among other adjustments, there are higher minimum wages for many states, new federal overtime rules and new W-4 forms.
Somerset CPAs president Early preparing to step aside
After 30 years, Patrick Early, 62, plans to hand off the role to longtime firm employee Benjamin Kimmerling.
Carmel names woman fired earlier this year as city’s first controller
Ann Bingman, director of internal controls for the Carmel Clerk-Treasurer’s Office, will become the city’s controller starting Jan. 1. Carmel Mayor Jim Brainard announced the appointment Monday.
Controller Qaddoura to leave Hogsett administration, run for state Senate
City Controller Fady Qaddoura is set to leave his job with the city at the end of the year. Part of his plans include a run for political office.
Carmel-based fraternity foundation official accused of embezzling $450K
The 43-year old woman has been charged in federal court with eight counts of wire fraud. “The evidence show that she stole over 800 separate cashier’s checks and money orders,” the indictment says, and deposited them into her own bank accounts.
Indianapolis to get boost in road funding, but other cities, towns face decrease
The city of Indianapolis is about to get a boost in road funding from the state—at the expense of other cities and towns—after a discrepancy was found in how the formulas for certain taxes had been applied for years.
Former area attorney sentenced to 30 months in prison for tax evasion
Judge Jane Magnus-Stinson said the former attorney and tax preparer “has a complete lack of respect for the law, for the tax code, his fellow citizens and for the court.”
Are additional Celadon execs in prosecutors’ sights?
The Justice Department’s April 25 press release—which announced Celadon had admitted to the fraud and agreed to pay $42 million in restitution—closes by noting that the investigation is ongoing.
Carmel council investigates termination of ‘key’ clerk-treasurer’s office employee
Clerk-Treasurer Christine Pauley and recently fired Director of Internal Controls Ann Bingman on Tuesday night gave councilors conflicting information about the status of the city’s annual audit.
Philadelphia firm buys majority stake in locally based KSM Consulting
Indianapolis-based accounting firm Katz Sapper & Miller has sold a majority stake in KSM Consulting to Philadelphia-based private equity firm Renovus Capital Partners.
Indiana budget director resigning to join UIndy
State Budget Director Jason Dudich is expected to work for the state through the end of the legislative session in mid-May.
Local accounting firm sanctioned by feds, pays $102K penalty
The U.S. Securities and Exchange Commission has accepted settlement offers from Katz, Sapper & Miller—the area's largest locally based accounting firm—and one of its partners for what the SEC described as "improper professional conduct."
Indy-based accounting firm Umbaugh to be acquired in three-way deal
Chicago-based firm Baker Tilly plans to acquire Indianapolis-based Umbaugh and a Minnesota-based firm in a three-way deal that will build one of the nation’s largest municipal finance advisory firms.