Foreclosures down nationally, up in Indiana
Actual foreclosures sank to a five-year low in March, but the number of homes entering the foreclosure process is on the rise again.
Banking & Finance
Articles
Hauke receiver files suit to recover $600K from Arizona investor
Attorney William Wendling will try to collect $1 million to $2 million from a handful of investors in Samex Capital Ponzi scheme.
Bankers Life paying $10M fine following securities probe
CNO Financial Group Inc. has agreed to pay $9.9 million to settle allegations by regulators in four states that its Bankers Life subsidiary acted as an investment adviser and broker-dealer without proper state licensing.
Hofmeister seeks financing to emerge from bankruptcy
Despite objections from unsecured creditors, a federal bankruptcy judge granted the jeweler's request to hire an outside consultant to help it seek alternative financing to repay the balance of a PNC Bank loan.
Wall Street observers blast Emmis plan to ax preferred shares
Emmis Communications Corp.'s effort to strip its preferred shareholders of their rights and avoid forking over about $10 million in unpaid dividends is drawing sharp criticism from top market observers, including a columnist for The New York Times.
S&P completes biggest first-quarter rally since 1998
More than $3.6 trillion has been restored to U.S. equity values since October amid better-than-estimated earnings and economic data. Indianapolis-based WellPoint Inc. surged 11 percent this week, as the Supreme Court debated the health care law.
Fair Finance trustee attorneys could land bigger jackpot
Attorneys assisting the Fair Finance Co. bankruptcy trustee have agreed to no longer be paid by the hour but instead on a contingency based on a percentage of funds recovered for shareholders of the company owned by indicted financier Tim Durham.
Indy lab company secures $30M seed investment
Indianapolis-based Strand Diagnostics LLC will receive up to $30 million in investment capital over the next three years from Los Angeles-based NantWorks LLC, a seed-stage investment firm, the companies announced this week.
Government sues to close tax preparer in 5 cities
The U.S. Justice Department is going to court in an effort to close a tax preparation company called Instant Tax Service and its offices in Indianapolis and four other cities, accusing franchisees of preparing fraudulent tax returns to maximize refunds and extract large tax preparation fees.
Two charged in $2.2M scheme against Colts’ Freeney
A financial adviser for Indianapolis Colts defensive end Dwight Freeney and the adviser's lover have been arrested on federal wire fraud charges that allege they swindled about $2.2 million from the lineman.
Veteran Deloitte managing partner retiring
Michael Becher will leave the local office of the accounting firm after a 36-year career, including 20 years as its leader. He’ll be succeeded by Mary Boelke, who’ll becomes just one of two female managing partners among the city’s top 20 accounting firms.
‘Repo Games’ TV show to feature Indiana contestants
Anderson will be heavily featured in a game show that gives residents who are facing a repossession a chance to have their vehicle paid off on the spot by answering questions correctly.
Ex-investment manager Hauke gets 10 years for fraud
Keenan Hauke of Fishers, who pleaded guilty to securities fraud in December after costing hedge fund clients $7 million, received a 10-year federal prison sentence Friday morning.
Client seeks lost revenue from Oxford Financial
Reid Hospital & Health Care Services in Richmond alleges the financial adviser’s delay in selling investments cost the hospital more than $2.5 million.
Indianapolis attorney pleads guilty to theft charges
An Indianapolis attorney has pleaded guilty to theft charges after prosecutors say she took nearly $600,000 from two accounts for which she was responsible.
Fishers collection agency expanding, adding 140 jobs
DECA Financial Services LLC plans to add 140 jobs by 2015 as part of a $2.6 million expansion that includes the purchase of a building on Visionary Way in Fishers.
Daniels signs inheritance-tax, kindergarten-funding bills
Indiana Gov. Mitch Daniels on Tuesday signed a rollback of the state's inheritance tax. The law will decrease the state's inheritance tax in stages beginning next year until it is eliminated after 2021.
Dynamics in place to mint public companies aplenty
Indianapolis attorneys say numerous local private firms are on the IPO sidelines, mulling whether to try to capitalize on the strengthening economy and improving investor appetite for new issues.
Carmel councilors want final say on city’s debt
Carmel City Councilor Eric Seidensticker on Thursday morning proposed an ordinance that would require the council to sign off on any additional debt. The ordinance is backed by at least five of the seven councilors.
Foreclosures surge in most states, including Indiana
Indiana saw default notices climb 37 percent in February compared to February 2011. Scheduled home auctions were up 92 percent from the previous year.