Former Obsidian Enterprises Inc. President Terry Whitesell will pay the amount as part of a settlement agreement. A bankruptcy trustee representing investors of Fair Finance Co., owned by convicted financier Tim Durham, had sought more than $225,000 from Whitesell.
Indiana pension funds took a temporary hit last year and may not rebound as much as public workers would like, based on long-term economic trends outlined for lawmakers Tuesday.
Shares in Indianapolis-based Angie’s List Inc., the consumer-review website company, plunged to a record low after a ban was lifted on stock sales by some of the company’s biggest investors.
The Indiana Public Retirement System has cut its assumed rate of return from 7 percent to 6.75 percent, becoming the first large pension system in the country to go below 7 percent.
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The $25.3 billion Indiana Public Retirement System is in the midst of hiring managers to carry out a strategy where more money will be in hedge funds, private equity and real estate than stocks.
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
The compensation plan submitted by Cleveland-based Baker & Hostetler LLP could have netted the law firm $32.5 million if it recovered the entire $200 million or more owed to investors of Fair Finance, which was owned by convicted Indianapolis financier Tim Durham.
WellPoint Inc. stock fell more than 12 percent Wednesday after the insurer’s quarterly earnings missed analyst estimates and it trimmed its full-year forecast.
Eli Lilly and Co. reported second-quarter profit that fell less than analysts had expected. The company raised its outlook for the rest of the year.
The Indianapolis-based mall giant is benefitting from robust demand for space from retailers in the United States. It's also ratcheting up growth by investing overseas.
Funding for U.S. startups fell 12 percent in the second quarter as venture capitalists poured less money into fewer deals than a year earlier. But the number of companies getting funded in the earliest stages of development reached the highest level in more than a decade.
Event organizers say Wall Street isn’t the only place to drum up interest in stocks.
The lawsuit accuses convicted money manager Keenan Hauke’s former accounting firm of negligence for failing to monitor Hauke’s bank accounts, enabling him to use investor funds for his personal use. Hauke was sentenced in March to 10 years in prison.
Secretary of State Connie Lawson said the new provisions will help her office provide better protection to investors.
Corn supplies in the United States, the world’s biggest exporter, are declining at the fastest pace since 1996 just as a Midwest heat wave damages the world’s largest harvest for a third consecutive year.
The state of Indiana and former Colts are among the lead investors in Fishers-based software provider CloudOne, the company announced this week.
A federal judge has ordered an Indiana financier and a business partner jailed until they are sentenced for swindling investors out of $200 million.
Convicted Ponzi schemers Tim Durham and James Cochran will be held in a federal prison until sentencing, while accomplice Rick Snow will be confined under home detention, under an order issued Monday afternoon by U.S. District Judge Jane E. Magnus-Stinson.
A federal judge will hear evidence on whether Tim Durham, Jim Cochran and Rick Snow should be kept in jail until they are sentenced.
