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Investment broker's plea deal erases 20 felony counts

Robert E. Wilson of Indianapolis originally faced up to eight years in prison on 20 securities-related felony counts. Under a plea agreement, he'll serve six months probation on one misdemeanor count.

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Stocks continue plunge as investors fear global turmoil

U.S. stocks fell in midday trading Thursday, with the Dow Jones Industrial Average losing more than 300 points, as investors shunned risk worldwide.

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JPMorgan Chase agrees to $905,000 settlement with state

The deal is a result of an investigation into the sale of mortgage-backed securities in Indiana and losses suffered by the Indiana State Teachers' Retirement Fund.

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College endowments show losses in volatile stock market

A dozen funds that responded to requests for their returns for the first six months of fiscal 2016 showed an average loss of 3.8 percent. Indiana University's loss was even larger.

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Battered Auer mutual fund soldiers on

From the Auer Growth Fund's debut in late 2007 through the end of 2015, its average annualized return was negative 5 percent, while the overall market rose an average of 6.3 percent annually.

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Indiana Supreme Court disbars convicted fraudster Durham

Timothy Durham was convicted in 2012 for his role in a Ponzi scheme that defraud investors in Fair Finance Co. of more than $200 million. He is currently serving a 50-year federal prison sentence.

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Prosecutor: No charges in Ball State investment scandal

Criminal investigations of former Ball State investment director Gale Prizevoits by federal prosecutors and the Indiana Secretary of State also produced no charges.

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Judge rejects Durham's bid to dismiss SEC civil suit

The Indianapolis financier convicted of operating a Ponzi scheme failed to persuade a federal judge to dismiss the government's civil action against him and other convicted accomplices.

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Victims to collect money soon in Veros case

The court-appointed receiver in an alleged $8.6 million Ponzi scheme perpetrated by Indianapolis-based Veros Partners Inc. is preparing to make his first distribution to affected investors.

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Fair Finance CFO seeks reduction of sentence

Rick D. Snow—who was convicted in 2012 of helping Tim Durham and Jim Cochran loot Fair Finance Co. but didn’t raid the company’s coffers himself—is seeking to get his 10-year sentence reduced.

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Feds bring charges in alleged fraud scheme that stung CNO Financial

Prosecutors accused Platinum Partners of carrying out a $1 billion fraud that included setting up an affiliate to bamboozle institutional investors—including CNO Financial Group—into investing in the...

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Securities watchdog bans second broker in alleged Veros Ponzi scheme

FINRA permanently banned a former stockbroker from practicing in the securities industry after he refused to testify about an ongoing civil Ponzi scheme suit.

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Indiana settles with securities firm over agent who ran Ponzi scheme

The state has settled with NYLife Securities LLC over the activities of an Indiana wealth manager with an extravagant lifestyle who killed himself while being investigated for operating a Ponzi scheme...

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College endowments suffer 'lost decade'

Officials overseeing endowments at some of Indiana’s colleges and universities have cut back on spending, or are considering doing so, after struggling to grow their funds over the past decade.

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Brokerage resolves complaint with Skinner family for $3.5M

A prominent Indianapolis family that filed a complaint against an RBC Wealth Management broker seeking nearly $20 million in damages recently accepted $3.5 million to resolve the dispute.

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Suspended lawyer in estate misappropriation case receives 8-year sentence

Stephen Schuyler pleaded guilty earlier this month to 15 felony counts, including theft.

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Convicted fraudster accuses attorney of secret relationship with his then wife

In an attempt to reopen his case, Keenan Hauke says Barnes and Thornburg partner Larry Mackey—who is now married to Hauke's ex-wife—did not adequately represent him.

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Investment pros staying calm after rate fears clobber stocks

Many fund managers and analysts say they're optimistic stocks can keep rising, even if interest rates continue to climb.

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After stomach-churning ride, Dow ends session with largest-ever point drop

The Dow Jones industrial average briefly plunged nearly 1,600 points Monday, definitively ending a record-setting period of calm in the U.S. stock market.

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Enron fraudster to speak at investment forum in Carmel

Former Enron CFO Andy Fastow, who was sentenced to six years in prison for his role in the Enron scandal, is expected to tell local financial analysts how the fraud unfolded and what he learned from...

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Adviser admits defrauding former Colt of $4.7M

Under the terms of the plea agreement, Kenneth Ray Cleveland of suburban Los Angeles is required to make restitution to former Colt Cory Redding.

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Facebook's stock plunges as growth stalls; Zuckerberg loses $16.8B

CEO Mark Zuckerberg's fortune tumbled Wednesday as Facebook shares fell 20 percent in after-hours trading.

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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...

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Investment experts: Don’t panic; look for opportunities

It's not clear whether the bull or the bear will prevail in 2019, so financial planners are counseling clients to expect volatility and take advantage of it, if that meets their long-term strategies.

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Prosecutors want 6-1/2 year sentence for former Merrill Lynch adviser Thomas...

Merrill Lynch terminated Buck in 2015, citing "loss of confidence" in him after 34 years at the firm.

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Cash rules as stocks, bonds waver

The steady-and-not-so-slow-anymore returns for cash, plus expectations for even more market volatility in 2019, means strategists along Wall Street are seeing cash as a viable investment option for the...

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