Developer who drew friends into Ponzi reaches $1M deal
Sydney "Jack" Williams, founder of Williams Realty Group, recruited dozens of investors, many with Indiana ties, to invest in a Florida business that turned out to be a giant fraud.
Securities fraud
Articles
Insurer for Durham firm to settle suits for $5.5M
The agreement allows embattled financier Tim Durham to remain on the board of CLST Holdings, but mandates he step down as chairman and not vote on any matter unless doing so would make the board unanimous.
Judge OKs plan to distribute Schrenker’s assets
A judge on Friday approved a plan under which investors who lost millions in Marcus Schrenker’s financial schemes will get back seven cents on the dollar.
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.
Secretary of state files complaint against teachers’ fund broker
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, is facing an administrative complaint from the Indiana Securities Division, which alleges 13 violations for unethical, dishonest and deceptive practices.
Recovery from Schrenker likely to be only 7 percent
A report by the receiver appointed to document Marcus Schrenker’s assets says he just doesn’t have enough money to repay investors more than that.
Indiana church financier convicted of Ponzi scheme
Jurors deliberated about four hours before convicting Vaughn Reeves, 66, on nine counts of securities fraud.
Lawyer doesn’t buy Schrenker’s claims that he’s broke
Schrenker, 39, testified Tuesday that his assets had been seized and he had no source of income since going to jail. He also faces millions of dollars in court-ordered judgments upon his release.
Church financier faces Ponzi scheme trial in Indiana
A former pastor is going on trial for what authorities call a multimillion-dollar scheme that preyed on thousands of parishioners who thought they were helping build churches but were actually buying the man and his sons planes and sports cars.
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.
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.
UPDATE: Schrenker pleads guilty to securities fraud
Former money manager admits to bilking friends, family members and other investors out of millions of dollars before trying to fake his own death. He’ll be sentenced Oct. 7.
Hamilton County woman pleads guilty to securities fraud
Dorothy Geisler-Tragardh, who had been a partner in a clean-coal energy company called Praxis Resource Partners LLC, was accused
of running a stock-sale scheme in which she took nearly $2 million from investors.
Schrenker to plead guilty to securities fraud
A former money manager convicted of trying to fake his own death in a Florida plane crash last year has agreed to plead guilty
to securities fraud charges in Indiana. Marcus Schrenker would face 10 years in prison.
Avoiding fraud easier than recovery
We want to
emphasize ways that investors can avoid fraudulent schemes, as the opportunity for restitution rarely compensates investors
for their losses.
New securities law lets some victims recoup losses
A new state law allows the securities commissioner to award up to $15,000 or 25 percent of unrecovered awards to victims who
can prove that a court or other agency awarded restitution for fraud that occurs after July 1 of this year.
Securities firm Stifel Nicolaus balks at fraud charge
Transactions cited in the complaint involved advisers scattered across the firm’s seven Indiana offices, though two-thirds
were clients of Jeff Cohen.