Investment adviser Hauke agrees to plead guilty in $7M fraud
Prosecutors accused Hauke of losing millions on Michigan real estate investments, then hiding those losses from clients.
Investment Losses
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Brizzi agrees to pay Fair Finance nearly $200K
The Fair Finance trustee alleged that, in addition to being huge campaign contributors to former Marion County Prosecutor Carl Brizzi, Tim Durham and his companies helped cover Brizzi’s personal expenses.
Filing shows Durham’s personal finances in shambles
Even if everyone who owed Durham money paid him—which seems unlikely—his assets still would be a fraction of his debts.
Former Hoosier pleads guilty in Florida Ponzi case
Former Indianapolis developer Sydney “Jack” Williams admitted to failing to report $6.4 million in income from 2004 through 2007 that he earned from Miami Beach, Fla.-based Capitol Investments, run by CEO Nevin Shapiro.
Court upholds former pastor’s fraud sentence
The Indiana Court of Appeals has upheld a 54-year sentence for a 67-year-old former pastor convicted of pocketing millions of dollars that investors believed would be used to build churches.
Government pension performance stings cities
The pension fund that holds benefits for public employees has seen improved investment returns over the last two years, but the hammering it took during the depths of the recession continues to deal a blow to cities, counties and other employers.
Dividend-paying investments becoming more attractive
Indianapolis-based Woodley Farra Manion Portfolio Management has rolled out an equity portfolio stacked with nothing but dividend-paying stocks that can provide a reliable source of income.
LEADING QUESTIONS: Investment guru on calming clients
What does the CEO of City Securities Corp. say when shell-shocked investors want to sell? Does the recent market slide point to a return of 2008? Where are the opportunities? Michael Bosway has answers.
SKARBECK: Market volatility should be seen as an opportunity
To a long-term, value-oriented investor, volatility should be viewed as opportunity. The crazy prices that are occasionally offered up by a roller-coaster market in periods of uncertainty allow for the purchase of undervalued securities.
UPDATE: Stocks soar on small positive economic signs
Wall Street's wildest week since 2008 continued with another 500-plus point move for the Dow on Thursday.
Dow drops more than 500 over economy concerns
The Dow Jones industrial average fell 519 points, or 4.6 percent, to close at 10,719.94 on Wednesday, wiping out the 429-point gain from Tuesday.
Stocks plunge after market’s opening
The Dow Jones industrial average fell 413 points, or 3.7 percent, to 10,827, in morning trading Wednesday. That erased nearly all of its 429-point gain from Tuesday, when the Federal Reserve pledged to keep its key interest rate at nearly zero into 2013.
Indiana stocks part of massive Wall Street sell-off
Stock prices hurtled lower Monday as anxiety overtook investors on the first trading day since Standard & Poor's downgraded American debt. Indiana stocks were part of the carnage.
Local stocks pummeled in global sell-off
Stock prices of the dozen largest public companies in the Indianapolis area all tumbled Monday morning as a Standard & Poor’s downgrade of U.S. debt spooked investors worldwide.
Fair sues Shelbyville bank over sale of Durham Duesenberg
Fair Finance Co.’s bankruptcy trustee sued Shelbyville’s SCB Bank this week, charging it refuses to turn over hundreds of thousands of dollars it raised by auctioning off one of Tim Durham’s most valuable automobiles, a 1929 Duesenberg.
Stocks slump as concerns about economy grow
The Dow Jones industrial average sank 265 points on Tuesday and all three major stock indexes fell more than 2 percent as investors reacted to more signs of weakness in the U.S. economy and poor earnings from several big companies.
Judge: Durham’s home-detention restrictions to continue
A federal judge denied a request from indicted financier Tim Durham to relax the rules of his home detention. The judge also appointed a public defender for his business partner, James F. Cochran.
Fair trustee issues subpoena for Brightpoint CEO
The Fair Finance bankruptcy trustee has subpoenaed Brightpoint Inc. CEO Robert J. Laikin as it tries to recover more than $19 million Laikin's brother borrowed from the Ohio company.
Fair Finance trustee sues National Lampoon
Fair Finance Co.’s bankruptcy trustee this week sued National Lampoon Inc. seeking to recover millions of dollars that indicted financier Tim Durham provided the ailing Los Angeles-based comedy business over the past decade.
Durham prosecutors propose case-notification plans
Instead of individually notifying the 5,400 investors that Tim Durham and two business partners are accused of defrauding, prosecutors want to keep them apprised of court proceedings through websites and an automated call center.