Westfield man sentenced to 5 years in fraud, money-laundering scheme
Prosecutors say the defendant used a Ponzi-style scheme to induce 100 individuals to sink more than $11 million into his companies.
Fraud
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Former travel insurance employee gets 47-month federal sentence for fraud
A McCordsville man has been sentenced to nearly four years in federal prison after using multiple—and often elaborate—fraud schemes to steal more than $750,000 from his Carmel-based employer.
Ponzi schemer Cochran escalates fight for early release on COVID grounds
Jim Cochran, who is serving a 25-year prison sentence for his role in the Fair Finance fraud, says he has undergone a religious conversion that no longer makes him a risk to society.
Indianapolis businessman pleads guilty in $11M Ponzi-style investment scheme
Federal investigators say George S. Blankenbaker Jr. and three of his companies raised more than $11 million from at least 109 investors in a fraudulent scheme he operated from 2016 to 2019.
Tax-form mailings help reveal extent of U.S. unemployment fraud
Simple tax forms being mailed to people who never collected unemployment benefits are revealing their identities were likely stolen months ago and used to claim bogus benefits that have totaled billions of dollars across the country.
Supreme Court clears attorney Mackey in discipline case involving fraudster’s ex-wife
The order concluded a more than year-long disciplinary case involving Larry Mackey’s relationship with the ex-wife of a former client, Fishers hedge fund executive Keenan Hauke of Samex Capital Partners.
Five from Indianapolis area sentenced to federal prison in $8.4M fraud scheme
Participants in the scheme, which involved multiple businesses and resulted in thefts from a bank and insurance company, received prison sentences ranging from 18 months to nine years.
Greenwood man facing 19 charges in $14 million fraud case
Prosecutors say Daniel R. Fruits, 46, defrauded his former employer out of millions of dollars that he spent on real estate, cars, Rolex watches, escort services and other items.
Greenfield business owner facing 11 counts of fraud, money laundering
The owner of a Greenfield insurance and financial business was charged Wednesday with stealing $1.2 million from clients in a securities and investment fraud scheme.
Justice Department charges 57 in alleged theft of $175M in pandemic relief funds
The Paycheck Protection Program has been a fraud concern from the moment it was rolled out in early April. Funds were disbursed with relatively little vetting, and businesses were allowed to self-certify their own eligibility.
Former official for Carmel-based fraternity foundation sentenced to 27 months
The former financial coordinator of a charitable foundation operated by women’s fraternity Zeta Tau Alpha has been sentenced after pleading guilty to embezzling about $450,000 from the organization.
Federal judge shoots down indicted executive’s vacation plans
Judge Jane Magnus-Stinson denied a request by former Celadon Group Inc. President William Meek to travel to a Mexican resort for a birthday celebration while he is awaiting trial on multiple fraud charges.
Indianapolis man gets 11-plus years in federal prison for leading fraud scheme
Federal investigators said Frank “Bread” Powell organized a ring that used more than 5,000 fraudulent checks to purchase gift cards and merchandise from Kroger and other stores in 12 states from January 2016 until April 2018.
Prosecutor says victims deserve ex-quarterback’s concussion funds
Former Colts quarterback Art Schlichter has received nearly $700,000 from a national settlement with the NFL over concussions. A prosecutor says that money should go to Schlichter’s many fraud victims.
Imprisoned exec says COVID-19 risks justify his release
The virus-wracked federal prison system has been broadening the ranks of inmates eligible for transfer to home confinement as officials seek to limit the spread of the coronavirus.
Fair Finance bankruptcy trustee loses high-stakes jury trial against deep-pocketed lender
The verdict was a huge setback for the 5,200 mom-and-pop Ohio investors who lost more than $200 million in a Ponzi scheme engineered by Indianapolis businessman Tim Durham.
Feds say Fifth Third opened fake accounts like Wells Fargo
Fifth Third said it had already investigated the allegations and called the fraudulently opened accounts “a limited and historical event.”
Former SerVaas Laboratories employee sentenced in $772K fraud case
The long-term employee was sentenced to 27 months in prison after she admitted to stealing from the Indianapolis-based company, which makes the famous Bar Keepers Friend line of cleaning products.
Prominent exec pulled into wife’s legal woes
The trustee in former Banc-Serv CEO Kerri Agee’s bankruptcy is suing her husband, Indianapolis businessman Ben Crawford, in an effort to recoup more than $1.4 million.
Recovery for Durham fraud victims hinges on high-stakes trial
A federal judge in northern Ohio has set aside three weeks for the jury trial, which pits Fair Finance Co.’s bankruptcy trustee against one of Fair’s former lenders, the Fortune 500 firm Textron Inc.