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.
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Regulator suspends City Securities investment broker
The Financial Industry Regulatory Authority suspended a local broker for 20 days for allegedly executing client trades under his own discretion without written client consent.
Hedge funds bet on Noble Roman’s
Two hedge funds have been beefing up stakes in Indianapolis-based Noble Roman’s, a 43-year-old pizza chain with a depressed stock price and an evolving business model.
KIM: For funds needed soon, zero is often ideal return
People frequently ask me how they should invest their money. While everybody’s situation is different, I always advise them to not invest any funds likely to be needed in the next three to five years.
Fed is moving toward rate hike, but just when still unclear
Many analysts predict that if the economy keeps improving, the Fed will raise its key short-term rate in September. That rate has been held near zero since 2008.
U.S. stocks slide, pushing Dow into red for year
Stocks have sagged in the past two weeks as investors try to assess if Federal Reserve policymakers will raise their benchmark interest rate later this year for the first time since the recession.
High-profile broker Buck faces rash of complaints
Thomas J. Buck, who was fired by Merrill Lynch in March and hired by RBC Wealth Management in April, received five complaints from investors between March 23 and May 4, according to the Financial Industry Regulatory Authority.
AP report: Companies ‘adjust’ profits more in their favor
As the stock market climbs ever higher, professional investors are warning that some public companies are presenting misleading versions of their results to make it seem like they're doing better than they really are.
After swoon, Lilly Endowment climbs back over $10B
Assets in 2014 rose from $7.7 billion to $10.1 billion, a 31-percent surge. The value of the endowment now has nearly doubled since closing 2010 at $5.3 billion.
International Monetary Fund cuts U.S. growth forecast
The International Monetary Fund is downgrading its outlook for the U.S. economy this year and says the Federal Reserve should wait until the first half of 2016 to start raising short-term interest rates.
Indiana securities commissioner abruptly resigns
Carol Mihalik, who took the position in November 2013, stepped down Friday without explanation, according to the office of Indiana Secretary of State Connie Lawson.
Lilly to market euro bonds as low rates lure U.S. firms
The drugmaker plans to sell 2.1 billion euros ($2.3 billion) of securities in three parts, according to a person familiar with the matter who asked not to be identified.
Judge dismisses bulk of Christ Church suit against JPMorgan
Christ Church Cathedral sued JPMorgan last year, saying the bank selected unsuitable and poorly performing investments, causing the church trusts to lose $13 million in value from 2004 to 2013.
Fair Finance trustee reaches $35M settlement with lender
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.
Hauke fraud victims set to get one-third of their money back
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.
Local financial firm charged in $15M Ponzi scheme
The Securities and Exchange Commission has filed a federal lawsuit against Indianapolis-based financial planning firm Veros Partners Inc., alleging it defrauded 80 investors of $15 million in 2013 and 2014.
Report: Hoosier firms raised $17.5M in VC for first quarter
The investment was in line with comparable quarters in recent years, but there’s evidence that at least one significant deal didn’t make the list.
Irrepressible Biglari runs a meeting like no one else
Sardar Biglari fielded questions from shareholders until they ran out of things to ask. He talked about the smallest details of the company’s businesses, from the way Steak n Shake makes its milkshakes to the number of ad pages its men’s magazine, Maxim, sells.
Activists fell 270,000 votes short of snaring Biglari board seat
The parent of Steak n Shake has disclosed the vote tally from the April 9 annual meeting, where all six incumbents won re-election.
Carmel financial adviser facing fraud charges
A Carmel financial adviser has been indicted by a federal grand jury on 66 criminal counts, including wire fraud, money laundering and securities fraud, the United States Attorney's office announced Wednesday.