The state's labor landscape changed, and the housing market improved. Indianapolis basked in the glow of a flawless Super Bowl, and big-name CEOs were shown the door. IBJ's reporters and editors recall the year's biggest stories.
The Ohio Division of Securities allowed Fair Finance to register investment certificates even after the company stopped providing audited financials and Tim Durham drained more than $100 million from the firm through insider loans.
Federal prosecutors have filed fraud charges against an investor who they say misspent nearly $400,000 that leaders of an Indianapolis church gave him as it tried to raise more money to rebuild from a fire.
The Lindberg Road Church of Christ in Anderson has filed for bankruptcy protection because of a failed plan to finance construction on its properties. The plan involved buying life insurance on elderly members, with the intent to sell the policies later on the secondary market.
The regulatory action is an outgrowth of a falling-out between Indiana Securities owner Frank Neese and Bank of Indiana, which lost its entire $1 million investment when The Estridge Cos. collapsed.
The SEC’s complaint accuses three people of committing securities fraud by spending investor funds on luxury automobiles, a motorcycle, a 30-foot boat, college tuition, home renovations, a wedding and a honeymoon in St. Lucia.
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.
A New York firm is contacting Fair Finance Co. investors seeking to purchase their bankruptcy claims—a sign of growing optimism that investors in the defunct business will secure a sizable recovery.
A series of government-recorded phone calls have provided some of the most riveting courtroom moments during the fraud trial of Tim Durham and two co-defendants.
Donald Russell, a retired deputy sheriff, is among the more than 5,000 clients of Fair Finance who lost big investments with the Ohio firm. After testifying on Tuesday during the fraud trial for Fair owner Tim Durham, he shared his story with IBJ.
A federal judge and a handful of attorneys are selecting jurors who could determine the fate of indicted financier Tim Durham and his co-defendants. The jury-selection process, which began Friday morning, launched what’s expected to be a three-week trial over alleged wire and securities fraud.
Oregon authorities say 62-year-old Phillip Ferguson died last week from a gunshot wound to the head soon after fleeing from two officers and an FBI agent. Ferguson vanished in 2000 after being accused of bilking more than 600 investors out of $30 million.
Tim Durham’s attorney is hellbent on preventing prosecutors from fixating on the things that made the Indianapolis financier a staple of TV news and gossip columns—his fancy cars, waterfront mansion and other trappings of a lavish lifestyle. Durham’s trial is set to begin on Friday.
More than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big banks still do not understand the threats posed by their own speculation.
Attorney William Wendling will try to collect $1 million to $2 million from a handful of investors in Samex Capital Ponzi scheme.
Keenan Hauke of Fishers, who pleaded guilty to securities fraud in December after costing hedge fund clients $7 million, received a 10-year federal prison sentence Friday morning.
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, has reached a settlement. Karandos agreed to a 75-day suspension from working in the securities industry and may pay up to $50,000 in restitution.
Fair Finance Co.’s bankruptcy trustee finally has found some deep pockets to go after in his quest to recover money for the small-time Ohio investors who lost more than $200 million when the Tim Durham-led company failed two years ago.
A former Playboy playmate, a well-known rapper and local businessmen are among the defendants in a barrage of lawsuits filed by a bankruptcy trustee trying to collect funds for investors of Fair Finance Co., the defunct Ohio firm led by Tim Durham.
Prosecutors allege Fishers investment manager Keenan Hauke hid losses for seven years by shifting assets among accounts and using new investors’ money to fund withdrawals.
