Scammers stole more than $3.4B from older Americans last year, FBI report says
The FBI received more than 100,000 complaints by victims of scams over the age of 60 last year, with nearly 6,000 people losing more than $100,000.
Securities fraud
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Indiana officials accuse Zionsville medical-device maker of violating securities law
The Secretary of State’s Securities Division announced the action Tuesday against VoCare Inc. and three of its officers.
State wins restraining order against Fishers attorney for alleged Ponzi scheme
According to a complaint, Darrin Blaine presented himself to investors as a seller of securities, despite not being registered with the state’s Securities Division. He allegedly obtained $680,000 from investors and used the funds for his personal lifestyle expenses.
Judge rejects U.S. Rep. Steve Buyer’s request to remain free pending appeal
U.S. Rep. Steve Buyer, a Noblesville resident, is due to report to prison on Nov. 28 to serve his sentence for insider trading.
Fishers man faces securities and investment fraud charges
Darrin Blaine was charged with six counts of securities violations, one count of money laundering and one count of corrupt business influence after being arrested in his home Thursday
Ex-congressman Buyer seeks to avoid prison for insider trading conviction
Former Indiana congressman Steve Buyer of Noblesville was convicted by a jury in Manhattan federal court in March of four securities fraud charges.
Ex-congressman from Indiana gets bail in stock fraud case
U.S. District Judge Richard M. Berman in Manhattan also ordered Stephen Buyer of Noblesville to stay in the continental United States while four counts of securities fraud are pending against him.
UPDATE: Ex-U.S. congressman Buyer among 9 charged in insider trading cases
Stephen Buyer is accused in court papers of engaging in insider trading during a merger of T-Mobile and Sprint, among other deals. It said he leveraged his work as a consultant and lobbyist to make illegal profits.
Carmel man handed federal prison sentence for securities fraud
George R. McKown, 71, who was convicted of conspiracy to commit securities fraud and wire fraud, also was ordered to pay more than $5.2 million in restitution to his victims.
Former Merrill Lynch broker Buck ordered to pay $7.5M in damages to former client
Thomas Buck built a reputation as one of the state’s top financial advisers before being sentenced to prison for securities fraud in 2019.
Indianapolis man found guilty of securities fraud
A businessman who was accused of taking part in a Ponzi-like scheme that robbed numerous investors of their retirement savings was convicted of conspiracy to commit securities fraud and wire fraud, federal authorities announced Monday.
Infamous Ponzi schemer Bernie Madoff dies in prison
Madoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations. But his investment advisory business was exposed in 2008 as a multibillion-dollar Ponzi scheme that wiped out people’s fortunes and ruined charities and foundations.
Greenfield business owner facing 11 counts of fraud, money laundering
The owner of a Greenfield insurance and financial business was charged Wednesday with stealing $1.2 million from clients in a securities and investment fraud scheme.
Prosecutors want 6-1/2 year sentence for former Merrill Lynch adviser Thomas Buck
Merrill Lynch terminated Buck in 2015, citing “loss of confidence” in him after 34 years at the firm.
SEC seeks to oust Tesla CEO Musk over go-private tweet
Peter Henning, a law professor and a former SEC lawyer, said it's the first fraud case involving use of social media by the CEO of a public company.
Fair Finance trustee tries for legal jackpot one last time
Without a big settlement, or a resounding victory at trial, victims in the fraud would be left with an underwhelming recovery—currently 11 cents on the dollar, based on distributions of $18 million in December 2015 and $5 million last October.
Indiana joins nationwide effort to crack down on cryptocurrency fraud
The effort, dubbed “Operation Cryptosweep,” is being coordinated by the North American Securities Administrators Association.
Judge orders ex-CEO to pay nearly $850K in Veros Ponzi scheme
A former finance company chief with a history of securities law violations has been ordered to pay almost $850,000 in connection with the sale of shady securities based on farm loans.
Tim Durham fraud victims eke out additional recovery
Investors in the Durham-owned Fair Finance Co. are slated to receive an additional $5 million soon, boosting their recovery to $23 million—which works out to about 11 cents on the dollar for their $208 million in losses.
Former Indianapolis entrepreneur charged with fraud in real estate deal
An entrepreneur, rapper and actor who had dreams of becoming a major Indianapolis real estate developer faces charges of securities fraud, the Indiana Secretary of State’s office said Tuesday.