Articles

Local financial planner sentenced for identity theft

A former financial planner at the Indianapolis offices of Northwestern Mutual and One America-American United Life was sentenced Tuesday to two years in federal prison and three years of probation after pleading guilty to identity theft.

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Game maker Fundex files for bankruptcy reorganization

The once high-flying Fundex is seeking to reorganize under the protection of bankruptcy as the lawsuits against the Plainfield-based company continue to pile up. Fundex lists assets of nearly $1.5 million and liabilities of $8.9 million.

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Case from 1970 revisited in dispute over NBA TV revenue

The NBA asked a Manhattan judge on Thursday to side with the league in a legal dispute that stems from a sweetheart deal enjoyed by the former owners of a defunct American Basketball Association team — and despised by current owners of four NBA franchises, including the Indiana Pacers.

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’80s anti-takeover law helped sow Emmis win

The Indiana Business Corporation Law—enacted to help Hoosier companies fight off a wave of attacks by corporate raiders—gives boards of directors unusually broad authority to exercise judgment as they see fit.

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Steak n Shake loses appeal over franchisee’s pricing

A longtime Steak n Shake franchisee who sued the chain after it insisted on setting prices for menu items prevailed again Friday as the 7th Circuit Court of Appeals affirmed an Illinois federal court’s ruling in the franchisee’s favor.

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Faction turns on trustee in Eastern Livestock bankruptcy

Things have suddenly taken an ugly turn for veteran Indianapolis attorney Jim Knauer and his legal advisers at Faegre Baker Daniels, who are under attack by parties that want them bounced from the massive bankruptcy case for Eastern Livestock Inc.

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Ex-Countrymark CEO denied early prison release

David Swanson had argued that his lawyers were derelict in not seeking a mistrial stemming from his 2002 conviction on wire fraud, money laundering and tax evasion charges. A federal appeals court on Wednesday affirmed his 12-year sentence.

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Former Durham exec ordered to pay $30,000

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.

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