Judge places Fair Finance into bankruptcy
A federal trustee will take control of the company’s assets while securities-fraud probes continue.
Banking & Finance
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SKARBECK: Economic Greek tragedy could play out globally
Fears that Greece may default on its government debt have kept global markets on edge.
Contorting bank regulators
A long-time bank observer says regulators are twisting into pretzels to avoid taking over Indiana institutions.
Local investment firm sold
Indianapolis-based Redwood Investment Advisers Ltd. has been purchased by a firm in Portland, Ore. Redwood, whose clients
include physicians and physician groups, has $350 million in assets under management.
Judge weighing request to unseal Fair Finance records
A federal judge is weighing whether to unseal search-warrant documents related to the federal investigation of businessman
Tim Durham and Akron, Ohio-based Fair Finance Co. following a hearing Thursday in Youngstown, Ohio.
Banks suing Broadbent, pushing one strip center into bankruptcy
Locally based Broadbent Co.’s legal battles with lenders have escalated, pushing one of its 34 strip malls into bankruptcy
and prompting Huntington National Bank and PNC Bank to sue to collect principal owed on loans tied to four more.
Startup VoCare Inc. might move to find venture capital dollars
A Lebanon-based startup wants to build a call center here and add up to 300 jobs, but state and local officials are struggling
with a big obstacle to keeping the company here.
Fair Finance going along with appointment of receiver
Attorneys for the company and its parent firm denied any fraud occurred but said receivership nonetheless made sense.
Durham-backed firm to halt trading, dissolve
Dallas-based CLST Holdings Inc. has struggled, and its shares trade for a mere 9 cents apiece.
Fair Finance investors force company into bankruptcy
Investors in Tim Durham’s Fair Finance Co. shoved the company into bankruptcy court Monday morning, a move intended
to reduce the risk assets will disappear while securities fraud probes continue.
Fair Finance investors file motion for receiver to control assets
The motion filed in an Ohio court is aimed at preventing funds from disappearing while investigations continue.
SKARBECK: Biglari’s ambitious, but he’s no Buffett
While Sardar Biglari’s effort to duplicate Warren Buffett is clear, some of the Steak n Shake chief’s moves have been superficial.
Health care venture capital swoons in Indy, holds steady statewide
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009.
Two more sentenced in mortgage fraud scheme
Federal prosecutors say the men were part of a scheme in which straw deals were set up to obtain inflated mortgages on more
than 100 Indianapolis houses.
PNC to pay back bailout money, sell division
PNC, which operates dozens of bank branches in the Indianapolis area under the National City name, is selling its global investment servicing business to Bank of New York Mellon Corp. for $2.3 billion.
Health firms still attracting venture capital
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009. That trend hit Indianapolis,
but the rest of the state actually saw an increase.
Unsung Manning sibling a player in investment field
Cooper Manning, brother of Super Bowl winners Peyton and Eli, is a big success in his own right as a broker of energy stocks.
But you’ll rarely hear him mention the sibling connection to his clients, or that he’s buddies with Drew Brees.
Fair Finance investors aim ire at U.S. attorney
Ohio residents who put money into Tim Durham’s company want the U.S. Attorney’s Office to seize his and the company’s assets.
Judge pushes back Schrenker’s securities fraud trial
A defense attorney and prosecutors have agreed to delay the trial on securities fraud charges of a former Indiana money manager
who tried to fake his death by jumping from a small plane before it crashed in Florida.
Vetting your sweetheart
With Valentine’s Day approaching, a Purdue prof calls for sober due diligence before engagement rings find their
way onto fingers.