Tech firms get chance to pitch investors
Seventy-six startups and small tech companies will vie for investors’ interest July 10 at the Innovation Showcase.
Banking & Finance
Articles
Durham victims wait and wait, as quest for cash continues
The bankruptcy trustee who has been trying to scrape together money for victims of Indianapolis financier Tim Durham’s Ponzi scheme just struck two lawsuit settlements that underscore the daunting obstacles he faces.
State firms up crowdfunding rules for businesses
Indiana firms can use the Internet to raise up to $2 million in a single securities offering, and Hoosiers can invest up to $5,000 each online, according to new state rules.
High court sides with Fifth Third employees in dispute
The U.S. Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock.
Breweries turn to outside investors to underwrite growth
Six breweries and two distilleries in Indiana have sought outside investments since January 2013, a few of them multiple times, federal records show. That’s up from just one brewery in both 2009 and 2010.
Ball State fraud involved failed internal controls
Ball State Treasurer Randy Howard told The Star Press he doesn't know whether that failure involved deception by anyone at the university, lack of due diligence or both.
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.
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.