First Indiana Future Fund off to a slow start
More than half of the venture capital fund’s original investors took a pass on its $58 million successor, the newly launched
INext.
Banking & Finance
Articles
Buyer of prized Durham Duesenberg alleges fraud
A Virginia businessman is suing Tim Durham, alleging he and other defendants manipulated the September auction of a 1930 Duesenberg
that sold for $2.9 million.
HAUKE: Unusual times mean tough money decisions
One of the strongest messages the broad market is sending us today is that investors are looking for liquidity.
Former bank manager sentenced on theft, arson
Former Fifth Third Bank assistant manager Dwayne Roberts was sentenced Tuesday to two years’ home detention and two years’
probation.
New BioCrossroads venture fund raises $58 million
The new INext fund is the successor to the $73 million Indiana Future Fund, which the life science initiative raised in 2003.
Still hoping to sell securities, Fair Finance seeks extension
Tim Durham’s Fair Finance Co. says it needs another 30 days to provide Ohio regulators with a mountain of documents
they requested relating to insider loans and other issues.
Fair Finance press release leaves investors hanging
The statement says the company anticipates reopening its loan-collection arm, but offers no assurances to the Ohio investors
it owes.
Obama reforms not necessarily dire for Sallie Mae in Indiana
The plan to nationalize the federal student loan program threatens to force Sallie Mae
to hack its network of 26 offices down to five. Yet the company’s Indiana operations have several advantages that could
help weather the cuts.
Federal filing lists another link between Brizzi, Durham
A federal financial-disclosure statement Brizzi submitted in May lists the politician as an investor in Red Rock Pictures
Holdings Inc., a film-development firm also backed by Durham.
Loss of partner at accounting firm Greenwalt Sponsel results in new name
The firm is now Greenwalt CPAs following the departure in September of Tom Sponsel, who launched Sponsel CPA Group.
Hoosier Energy avoids financial brownout
Hoosier Energy, which supplies electricity to customers in 48 counties in central and southern Indiana, has settled a dispute
that had threatened to plunge the utility into bankruptcy.
PEARCE: More companies are focusing on consumers with poor credit ratings
The hardest-hitting recession in 75 years has left as many as 70 percent of consumers (many newly credit-challenged) with battered credit scores. However, retailers who approach these customers with sensitivity and integrity can find great opportunity both for themselves and the customers they help get on the road to recovery. It has been our experience […]
Federal filing lists another Brizzi investment in Durham-related firm
Marion County Prosecutor Carl Brizzi is listed in a federal filing as an investor in Los Angeles-based Red Rock Pictures Holdings,
a company linked to embattled Indianapolis businessman Tim Durham.
Class-action suit seeks millions for Fair Finance investors
Attorneys on Friday afternoon filed a class-action lawsuit seeking to rescind $200 million in investor purchases of Fair
Finance Co. securities and to slap Tim Durham and other company insiders with millions of dollars in punitive
damages.
Ohio balks at Fair Finance’s latest effort to register securities
Ohio securities regulators have asked for a mountain of additional information from Tim Durham’s Fair Finance Co. that
they say they would have to evaluate before deciding whether to allow the company to resume the sale of investment certificates.
$75M investment in ExactTarget may be Indianapolis record
The amount raised since October is in addition to the $69.9 million it received in May from three venture
firms on the coasts, in what was the third-largest venture deal in the nation during the second quarter,
according to the National Venture Capital Association.
Durham enlisted directors with personal, financial ties
Carl Brizzi’s short stint as a Fair Finance director reflects a larger pattern in Tim Durham’s business dealings.
Indiana University launches $10M seed fund
The Innovate Indiana Fund will invest $5 million over the next five years to commercialize IU technologies and another
$5 million to help IU-affiliated startups get off the ground.
State sues teachers’ union for securities fraud
The Indiana Secretary of State’s securities division says Indiana State Teachers Association can’t account for $23 million
intended for
school districts, requests assets be frozen.
Clarian Federal Credit Union acquires Community Choice
The combined firm will have more than 8,700 members and more than $20 million in assets.