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.
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.
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.
The $18 million payout to some 5,000 investors in Fair Finance Co. represents a recovery of about 9 cents on the dollar.
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.
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.
The indictment likely means prosecutors were unable to reach a plea agreement with Wolfe, who was preliminarily charged in late 2014.
A Hancock County man who defrauded 19 investors out of nearly $400,000 has been sentenced to 27 months in federal prison.
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.
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.
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.
Indianapolis attorney Charles Blackwelder already has pleaded guilty to a real estate scam in Hamilton County that involved more than 300 elderly Hoosiers.
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.
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.
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.
The deal would resolve a 2011 lawsuit accusing former Indianapolis businessman Tim Durham of using Fair Finance funds to prop up National Lampoon. He is a former CEO of both companies.
The attorney general's office received 5,255 scam complaints in 2014, more than double the 2,341 from a year earlier.
ITT Educational CEO Kevin Modany and Chief Financial Officer Daniel Fitzpatrick allegedly “engineered a campaign of deception and half-truths” to hide from investors the extent of losses ITT was suffering from student loan programs, the SEC said Tuesday morning.
The bankruptcy trustee had accused Fortress Credit Corp. of turning a blind eye to Tim Durham's Ponzi scheme because it was making millions of dollars and held first liens on the only company assets with real value.
Investors will receive about $3.2 million of the $9.7 million they lost in a fraud perpetrated by Keenan Hauke, a former Fishers hedge fund manager. He’s in prison after admitting to hiding massive losses by creating fake account statements.
Joseph Furando and two companies he co-owns have pleaded guilty to federal charges in a biofuels scam that became one of the largest frauds in Indiana history and bilked taxpayers and fuel buyers out of tens of millions of dollars, prosecutors said.