Local man pleads guilty to $2.9 million in tax fraud
A 41-year-old local businessman pleaded guilty to theft of government funds Wednesday after he was accused of cashing hundreds of stolen or fraudulent tax-refund checks worth nearly $3 million.
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Former Carrier accounting manager lands in prison
A former accounting manager at Carrier Corp. in Indianapolis has been sentenced to federal prison for embezzling more than $1.2 million from the company, U.S. Attorney Josh Minkler announced Wednesday.
Former investment broker sentenced to one year
Ronald W. Nichter, 60, was found guilty of siphoning more than $160,000 from the investment accounts of 14 clients, including several who lived in Anderson, Pendleton, Greenfield and Shirley.
Federal court rejects Durham’s sentence appeal
A federal appeals court has rejected a former Indianapolis businessman's bid to shorten his 50-year sentence for defrauding investors of more than $200 million.
Former Indy developer going back to prison for a year
Sydney "Jack" Williams, whose fortunes turned after he got mixed up in a $930 million Ponzi scheme, received the sentence Monday after pleading guilty to scheming with his wife to hide bank withdrawals before his 2010 bankruptcy.
Investment broker’s plea deal erases 20 felony counts
Robert E. Wilson of Indianapolis originally faced up to eight years in prison on 20 securities-related felony counts. Under a plea agreement, he’ll serve six months probation on one misdemeanor count.
Carmel financial adviser found guilty of fraud
Prosecutors said Jamie C. Lopez used money from the retirement accounts of his victims to buy automobiles, make mortgage payments and pay for home landscaping.
For ITT Educational, a hard fall and a long road back
ITT lawyers are zeroing in on cleaning up the legal quagmire—and they’re starting to have success. Without admitting liability, ITT in November reached agreements to settle securities lawsuits in Indiana and New York for a total of $29.5 million, with $25 million to be paid from the company’s insurance coverage.
First checks leave Durham victims underwhelmed
The $18 million payout to some 5,000 investors in Fair Finance Co. represents a recovery of about 9 cents on the dollar.
Former Indianapolis developer tries to avoid return to jail
Sydney "Jack" Williams is at risk of going to jail for the second time since he avoided charges in a massive Ponzi scheme run out of Miami.
Investment firm owner sentenced to 5-plus years for fraud
John K. Marcum, 51, of Fishers, received a 66-month sentence and was ordered make restitution of $3.9 million to 17 victims, including several who lost their life savings.
Collection-agency exec Wolfe indicted on fraud charges
The indictment likely means prosecutors were unable to reach a plea agreement with Wolfe, who was preliminarily charged in late 2014.
Hancock County man gets prison time for defrauding investors
A Hancock County man who defrauded 19 investors out of nearly $400,000 has been sentenced to 27 months in federal prison.
Business owner ordered to pay $643K for securities fraud
Timothy E. Cook funded his personal expenses by falsely promoting stock in his Indianapolis-based cancer research firm Xytos Inc. long after it had ceased operations, according to a federal court ruling.
Chicago insurer turns up heat in quest to collect $44M judgment
A Chicago company that won a massive judgment against Indianapolis businessman Alan Symons, his family and related companies accuses the 66-year-old of “hide-the-ball” conduct.
Indiana warns businesses about recent deceptive letters
Secretary of State Connie Lawson is warning Indiana firms about letters that appear to have come from her office and ask for $125 or $150 fees.
Justices suspend Indy lawyer who ran $19M Ponzi scheme
Indianapolis attorney Charles Blackwelder already has pleaded guilty to a real estate scam in Hamilton County that involved more than 300 elderly Hoosiers.
Angie’s List lawsuit charges Amazon stole trade secrets
The federal lawsuit says Amazon took shortcuts in building a direct competitor to Angie's List by having employees sign up as members of the Indianapolis-based consumer reviews company and then illegally downloading lists of service providers and other information.
Judge tosses Angie’s List suit, but gives investors chance to refile
The lawsuit claimed the company’s 2013 reduction in membership fees undermined its previous claims about its business model, but a federal judge said the complaint was devoid of facts showing the damage from those cuts.
Durham may see little payoff from dismissal of two counts
When Judge Jane Magnus-Stinson sentenced Durham to 50 years in 2012, she said there was no point to handing down a sentence that was a multiple of his likely life span.