Slinky maker hoping to purchase bankrupt Fundex
Plainfield-based Fundex Games Ltd., which filed for bankruptcy protection in September, said Poof-Slinky Inc. is the only potential purchaser that has shown interest in acquiring the company’s assets.
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Successful Durham appeal unlikely, outside lawyers say
Local criminal defense lawyers who tracked the trial of Tim Durham and his accomplices say chances are slim that they would prevail on appeal. One said Durham would have a better chance of winning the lottery.
Durham gets 50 years for fraud scheme
Former Indianapolis businessman Tim Durham was sentenced to 50 years in prison for running a Ponzi scheme that led to the collapse of Fair Finance, costing thousands of investors $250 million. Accomplices Jim Cochran and Rick Snow received 25 years and 10 years, respectively.
KAR Auction Services declares first dividend
Carmel-based KAR Auction Services Inc. is declaring its first quarterly dividend since going public in December 2009.
VC funds hope to help early-stage life sciences firms
Early-stage venture capital has been harder and harder to come by for life sciences companies in recent years, but two Indianapolis investors are working to raise sizable funds to help fill the gap.
Live tweets from Durham sentencing
IBJ provided ongoing updates from the courthouse where Ponzi schemer Tim Durham and two accomplices were sentenced Friday afternoon.
Durham fate rests in judge’s hands
Convicted Ponzi schemer Tim Durham and two accomplices will find out Friday whether they will spend the rest of their lives in prison.
Local designer’s bankruptcy tied to Fair Finance
SC Design Inc. lists debt of $1.5 million. Most of it is owed to Fair Finance, formerly co-owned by convicted fraudster Tim Durham, through a claim filed by a trustee seeking to recover investor funds.
Church’s fate in judge’s hands after insurance scheme sours
A federal judge will determine whether an Anderson church can exit bankruptcy with a lighter debt load, over objections from its bank lender, after a church scheme to profit by selling life insurance on its elderly members failed.
Prosecutors: Durham, accomplices deserve life sentences
Saying their crimes were “as serious as any financial fraud crime ever committed,” federal prosecutors re-emphasized Monday their recommendation that Ponzi schemer Tim Durham and his two accomplices deserve to spend the rest of their lives in prison.
Durham asks court for five-year sentence
Convicted Ponzi schemer Tim Durham is requesting a much shorter prison stay than the life sentence federal prosecutors want him to serve. The convicted Ponzi schemer and two associates are set to be sentenced Friday.
Items in ’12 Days of Christmas’ increase to $107,000
If you get buy all 364 items repeated throughout “The Twelve Days of Christmas” carol, you’ll pay 6.1 percent more this year, according to the so-called Christmas Price Index that PNC Wealth Management updates annually.
Pliant Ohio regulators helped clear path for Durham’s fraud
The Ohio Division of Securities allowed Fair Finance to register investment certificates even after the company stopped providing audited financials and Tim Durham drained more than $100 million from the firm through insider loans.
$22M foreclosure suit targets local apartment complexes
The three complexes are Dogwood Glen Apartments on the city’s northwest side, Elmtree Park Apartments on the far-east side and Heathmoore Apartments on the southeast side.
Indianapolis receives $39M loan guarantee from HUD
The city will use the funding to establish a Community and Economic Loan Pool to provide financing for economic development and housing rehabilitation initiatives to benefit people of low and moderate incomes.
Carmel council approves refinancing package
Carmel’s City Council on Monday night voted 7-0 to approve a proposal to refinance $195 million in debt incurred by the Carmel Redevelopment Commission.
Carmel project dogged by conflict questions
An executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project was driven by conflicts of interest.
PROXY CORNER: First Financial Corp.
Terre Haute-based First Financial Corp. is the holding company for First Financial Bank, The Morris Plan Co. of Terre Haute and Forrest Sherer Insurance. It operates more than 60 banking offices in Indiana and Illinois.
Battered Broadbent climbs back from brink
One of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and protracted legal battle with two lenders.
Health insurance stocks flop after Obama wins second term
Health insurance stocks sank deeper than the broader market Wednesday after President Barack Obama's re-election helped clarify the future of his health care overhaul, a sweeping law that some investors fear will pinch profits.