Indiana man pleads guilty in fake credit union case
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.
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Investors in church-related fraud to get most of their money
Investors will get 70 cents for every dollar they invested in an $85 million Ponzi scheme operated by a fundraising branch of the Church of God.
Archivist: IRS didn’t follow law with lost emails
The Internal Revenue Service did not follow the law when it failed to report the loss of records belonging to a senior IRS executive, the nation's top archivist told Congress on Tuesday.
IRS head says no obstruction of Congress in probe
The head of the Internal Revenue Service brushed aside accusations Monday that the agency has obstructed investigations into the targeting of tea party and other political groups, even as Republican lawmakers questioned his credibility.
INDIANA 100: Indiana public companies turned in contrasting performances
Profit shot up for some, while others fought setbacks.
Record number of Hoosier upstarts hunt for investors
Indiana companies are lining up for private investments in record numbers—a trend driven by the growth of dozens of Indianapolis technology companies that have left the startup stage and want to quickly hire and expand.
Audit finds ‘intentional misuse’ of funds by Elevate Ventures
The Office of the Inspector General of the U.S. Treasury Department says Elevate Ventures “intentionally misused” almost $500,000 in taxpayer funds when the state contractor invested in a company run by its board chairman.
Sports memorabilia forfeited to help repay Ball State
A New York City man who pleaded guilty to wire fraud for his role in an investment fraud scheme that cost Ball State University $3.8 million has agreed to forfeit a baseball jersey autographed by Mickey Mantle and boxing gloves autographed by Mike Tyson.
Fed slows bond buying with fifth monthly reduction
The Federal Reserve will further slow the pace of its bond purchases because a strengthening U.S. job market needs less support.
Dems look to downtown funds for Rebuild Indy alternative
City-County Council Democrats on Wednesday morning unveiled an alternative to the mayor's infrastructure-spending plan. It would involve less borrowing and use money in the downtown TIF fund.
Investors to seek clues from Fed on rate increase
The Fed will likely approve a fifth cut in its monthly bond purchases because the job market has strengthened. But no clear signal is expected on when it will start raising short-term interest rates from record lows.
Second man serving time in Ball State fraud scandal
A Brooklyn, N.Y., man was sentenced to three years in prison for his role in an investment fraud scheme that cost Ball State University $13.1 million.
Ball State bilked in 2nd scheme for $5 million
Ball State University lost $5 million in an investment fraud scheme in addition to the $8.1 million scheme announced last week.
Ball State says feds asked for quiet about fraud
A top Ball State University administrator said the school kept quiet for more than two years about an $8 million securities fraud at the request of federal law enforcement authorities.
Former CEO sentenced for federal tax evasion
Joseph C. Scott, 54, the former CEO at KSM Profit Advisors LLC, was convicted of underreporting his income taxes from 2005 to 2009, resulting in unpaid taxes of nearly $600,000.
Ponzi scheme leader gets 10 years in prison
Rudolf “Rudi” Pameijer, a former Johnson County insurance agent who pleaded guilty to scamming $1.8 million from two dozen investors, was sentenced Monday to 18 years in prison, with eight of those years suspended.
Adviser who swindled Ball State out of $8M gets 4 years
Seth Beoku Betts persuaded the university to give him money to invest in collateralized mortgage obligations. His attorney say he lost the money through bad investments, but prosecutors say he spent much of it on himself, including buying a $1.5 million home in Florida.
Lender to bankrupt country club puts on suitor’s cap
The lender for the Hawthorns Golf & Country Club is an affiliate of California-based Concert Golf Partners, which hopes to convert its debt into ownership of the Fishers club.
State plans conference to examine tax structure
More than 200 local and national tax professionals and policy makers will participate in the Indiana Competitiveness and Simplification Conference on June 24 at the Indiana Government Center.
Old National scoops up Lafayette Savings Bank for $42M
The purchase of LSB Financial Corp., parent of Lafayette Savings Bank, will add $366 million in assets and five branches to Old National’s portfolio.