Home Loan Bank sues over losses on $3B mortgage portfolio
The Federal Home Loan Bank of Indianapolis is suing some of the nation’s largest financial institutions to recover losses on a $3 billion portfolio of mortgage-backed securities.
Legal Issues
Articles
Inventor files suit against local printing business
Lawsuit alleges Harding Poorman Group shorted former Discom Technologies owner a percentage of sales after it acquired his company.
Court upholds Lilly patent on cancer drug Alimta
A U.S. District Court judge on Monday upheld Eli Lilly and Co.’s patent on the cancer drug Alimta, protecting the compound until July 2016. It was a welcome win after a difficult few months for Indianapolis-based Lilly, which is facing a wave of patent expirations in coming years.
Citigroup subsidiary agrees to $717,000 Indiana fine
The penalty stems from charges that Citigroup Global Markets failed to monitor a former agent accused of working with Robert Nelms, who was sentenced in May for securities fraud involving a $24 million cemetery trust fund operated by Indianapolis-based Memory Gardens Management Corp.
Drama builds in suit over Hilbert mother-in-law’s life policy
Businessman J.B. Carlson is in debt for $5.9 million, and he may have been the last person to see 74-year-old Suzy Tomlinson alive. Her $15 million life-insurance policy named him as the beneficiary.
Former iSalus CEO sues tech firm for breach of contract
Mark A. Day is suing Indianapolis-based technology firm iSalus Healthcare, claiming he was dismissed without cause and is entitled to severance pay and benefits.
Developer tied to Ponzi slides into bankruptcy
Sydney "Jack" Williams earned commissions by persuading dozens of investors, many with Indiana ties, to lend millions of dollars to a business that turned out to be fake.
Firm that ignored lawsuit now paying a hefty price
Tax-resolution firm JK Harris did not defend itself against a lawsuit and got pummeled as a result. Now, it’s brought in an attorney who’s trying to undo the mess.
U.S. court voids NCAA ruling, seeks help on state law
A three-judge panel of the Chicago-based appeals court Monday reversed its own July ruling that said the NCAA must face a lawsuit by consumers claiming its ticket-distribution method violates Indiana law.
Ruling cuts $42M award for state workers seeking back pay
An appeals court said union workers were eligible for just a couple of months of back pay, rather than for 20 years of back pay.
Schrenker sentenced to 10 years for securities fraud
Hamilton Superior Court Judge Steven Nation sentenced Marcus Schrenker to 10 years in prison, ignoring Schrenker’s claims that a lighter sentence would give him enough time to make things right.
BMV commissioner resigns following arrest
State Bureau of Motor Vehicles Commissioner Andrew J. Miller resigned Thursday, the day after he was arrested for allegedly exposing himself in a public restroom in downtown Indianapolis.
Indiana BMV chief arrested on indecency charge
Andrew J. Miller, 40, of Carmel, was arrested on a charge of public indecency about 1:30 p.m. at Claypool Court, a retail and hotel center near the Circle Centre mall, authorities said.
Ex-IU hoops player Leary avoids prison time in fraud
Former Indiana University basketball player Todd Leary was sentenced Monday to two years of work release or home detention followed by two years on probation. He still faces theft and burglary charges in Hamilton County in a separate case.
Indiana Supreme Court rulings uphold casino rights
The court issued a pair of split rulings bolstering the rights of casinos by ruling against a woman who said a riverboat preyed on her gambling addiction and a card counter who sued for the right to play blackjack.
Local ordinance could be key in City Market discrimination flap
Unlike state and federal law, city ordinance prohibits discrimination based on sexual orientation. That may be enough for the city to take action against Just Cookies, which operates in City Market, for declining a request based on the customer’s sexual orientation.
Plastic surgery firm hit with surveillance litigation
Former employees say Meridian Plastic Surgery Center violated their rights when it secretly recorded them in various states of undress.
Church with rich history sues to shed ‘historic’ label
The designation scotched a deal with CVS that would have funded construction of a new church at another location.
Bank suing Estridge Cos. for securities fraud
Bank of Indiana files complaint against the home builder, alleging it failed to repay a $1 million investment due June 30. The complaint further accuses law firm Krieg DeVault LLP of malpractice and breach of fiduciary duty.
Defendant pleads guilty in $880M fraud case
A Florida man with ties to the founder of Indianapolis-based Williams Realty Group
pleaded guilty Wednesday to running a multistate Ponzi scheme that prosecutors say left investors with up to $100 million in losses.