State’s pensions stung by oil plunge
The drop in oil prices since July left more money in consumer bank accounts, but it was costly to Indiana’s pension funds.
Investment Losses
Articles
Auer Growth Fund, falling short of name, plans to stay the course
Some fund managers tweak their strategies or fees when things aren’t going so well. But don’t look for Bob Auer, the fund’s 53-year-old senior portfolio manager, to do so.
Indiana to get slice of S&P’s $1.38B government settlement
Standard & Poor's has agreed to pay about $1.38 billion to settle government allegations that it knowingly inflated its ratings of risky mortgage investments that helped trigger the financial crisis.
Probe, questions linger after Ball State loses $13M to fraud
The men who engineered the scams now are in federal prison. Meanwhile, Gale Prizevoits, who served as Ball State’s director of cash and investments from 2006 until her firing in 2011, stands disgraced but hasn’t been charged.
CNBC’s ‘American Greed’ to profile Tim Durham
The show, which airs at 10 p.m. Thursday, follows Durham’s path from his modest roots in Seymour, Indiana, through his quest to become the world’s richest businessman to his arrest and conviction for running a $200 million Ponzi scheme.
Ex-prosecutor helps Ball State avert future fraud
The university first learned in September 2011 it had been the victim of an $8.1 million securities fraud, although officials say it began in 2008.
Hamilton County man arrested for investment scheme
John K. Marcum, 50, was taken into custody Thursday after a federal grand jury indicted him on charges of criminal wire fraud, securities fraud and money laundering.
Ponzi scheme operator gets 20 years in prison
A former OneAmerica Securities Inc. representative who is already serving five years in federal prison for running a Ponzi scheme received a much tougher sentence Thursday in a local courtroom.
Indiana man sentenced for running fake credit union
Timothy Coughlin, 63, of Indianapolis was ordered to pay $10 million in restitution at sentencing Friday in federal court. Prosecutors say 5,000 investors from 50 countries and all 50 states made deposits to his fake credit union.
Local man faces 20 investment-related felony counts
Robert E. Wilson, 54, who operated locally based Wellington Institutional Management LCC, was charged in Marion County Court with 10 counts of securities fraud and 10 counts of being an unregistered broker-dealer.
Church accuses JPMorgan of mismanagement, self-dealing
Christ Church Cathedral has filed a federal lawsuit against JPMorgan Chase, alleging the bank’s “intentional mismanagement” and “self-dealing” led to $13 million in losses in church trust accounts endowed in the 1970s by Eli Lilly Jr.
Hauke accounting firm to pay $1.8M in fraud settlement
DeWitt & Shrader PC, an Indianapolis-based accounting firm that worked for convicted Ponzi schemer Keenan Hauke, has agreed to settle a state lawsuit, Indiana Secretary of State Connie Lawson announced Tuesday.
Ball State hires prosecutor to review investment fraud
Indianapolis attorney Deborah Daniels will scrutinize what happened to $13.1 million.
Durham victims wait and wait, as quest for cash continues
The bankruptcy trustee who has been trying to scrape together money for victims of Indianapolis financier Tim Durham’s Ponzi scheme just struck two lawsuit settlements that underscore the daunting obstacles he faces.
Ball State fraud involved failed internal controls
Ball State Treasurer Randy Howard told The Star Press he doesn't know whether that failure involved deception by anyone at the university, lack of due diligence or both.
Second man serving time in Ball State fraud scandal
A Brooklyn, N.Y., man was sentenced to three years in prison for his role in an investment fraud scheme that cost Ball State University $13.1 million.
Ball State bilked in 2nd scheme for $5 million
Ball State University lost $5 million in an investment fraud scheme in addition to the $8.1 million scheme announced last week.
Ponzi scheme leader gets 10 years in prison
Rudolf “Rudi” Pameijer, a former Johnson County insurance agent who pleaded guilty to scamming $1.8 million from two dozen investors, was sentenced Monday to 18 years in prison, with eight of those years suspended.
Adviser who swindled Ball State out of $8M gets 4 years
Seth Beoku Betts persuaded the university to give him money to invest in collateralized mortgage obligations. His attorney say he lost the money through bad investments, but prosecutors say he spent much of it on himself, including buying a $1.5 million home in Florida.
‘Local’ firm played role in alleged pump-and-dump scheme
An investor-relations firm founded by an Indianapolis native allegedly helped insiders of a biotech firm to hype its stock on financial sites, then sell their own shares on the bump.