Investment/Estate Planning

College savings plan benefits could expand

January 25, 2017
Dave Stafford
As 529 plans hit 20-year milestone in Indiana, new state and federal contribution incentives have been proposed.
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Indiana settles with securities firm over agent who ran Ponzi scheme

January 20, 2017
 Associated Press, IBJ Staff
The state has reached a $275,000 settlement with NYLife Securities LLC over the activities of an Indiana wealth manager who killed himself in 2013 while being investigated for operating a Ponzi scheme that took millions of dollars from dozens of investors.
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Ex-lawyer who bilked relatives of $1.3M gets prison sentence

December 27, 2016
 Associated Press
A former Indiana attorney who pleaded guilty to bilking relatives out of more than $1.3 million has been sentenced to 2 ½ years in prison.
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Feds bring charges in alleged fraud scheme that stung CNO Financial

December 20, 2016
Greg Andrews, IBJ Staff
Prosecutors on Monday lowered the boom on the New York-based hedge fund Platinum Partners, alleging it carried out a $1 billion fraud that left hundreds of victims—including CNO Financial Group.
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US Supreme Court upholds broad power to curb insider trading

December 6, 2016
 Associated Press
A unanimous U.S. Supreme Court is siding with the government in a legal clash over the nation's insider trading laws. It's a victory for prosecutors seeking to curb corruption on Wall Street.
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Former CIB chiefs try to avoid entanglement in legal fight involving Pacers

December 2, 2016
Anthony Schoettle, IBJ Staff
Three former presidents of the city’s Capital Improvement Board—Pat Early, Bob Grand and Ann Lathrop—are fighting an effort by attorneys for the IRS to depose them about what they learned about the Indiana Pacers' finances during discussions with the team.
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Judge rejects Durham’s bid to dismiss SEC civil suit

August 10, 2016
Dave Stafford
Ponzi scheme operator Tim Durham has failed to persuade a federal judge to dismiss the government’s civil action against him and other convicted accomplices.
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Prosecutor: No charges in Ball State investment scandal

August 8, 2016
 Associated Press
A prosecutor says Ball State University's investment of $13.1 million with two networks of criminals didn't violate Indiana securities law and no criminal charges will be filed.
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401(k) fees are attracting more attention—from lawyers

July 8, 2016
 Bloomberg News
Recent mega-settlements involving 401(k) lawsuits, along with a U.S. Supreme Court ruling last year that put plan fiduciaries on high alert about the need to continuously monitor plan investments, has encouraged more law firms to develop and expand their fiduciary litigation practices.
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Justice Alito sells Exxon stock after almost decade of recusals

June 22, 2016
 Bloomberg News
U.S. Supreme Court Justice Samuel Alito has finally sold the Exxon Mobil Corp. stock that for almost a decade kept him from taking part in cases involving the world’s biggest publicly traded oil company.
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As Koch brothers cling to Madoff cash, a new legal battle arises

June 3, 2016
 Bloomberg News
Billionaire brothers Charles and David Koch have made plenty of good business decisions over the years. Placing millions of dollars with Ponzi-scheme mastermind Bernard Madoff may have been one of them.
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With Prince’s intestate death, estate lawyers see need to educate

June 1, 2016
Dave Stafford
The apparent intestate death of Prince Rogers Nelson, who left an estate widely reported to be worth up to $300 million, prompted several Indiana lawyers to blog about their connection to his music and also use the opportunity to educate people about what happens when someone dies without a will or estate plan.
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Glenn: Estate planning for Florida snowbirds

June 1, 2016
Indiana attorneys are well-advised to have Florida counsel engaged in the planning of any strategies involving their snowbird clients’ Florida interests, and certainly in the preparation of any Florida estate planning documents.
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Feds reach $15M deal in suit over failed Indiana bank

May 12, 2016
IBJ Staff
The Federal Deposit Insurance Corp., which sued three former Irwin Union Bank officers in 2013, has reached a $15 million settlement with those defendants.
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AG’s office looking for owners of savings bonds

March 2, 2016
IL Staff
The Indiana Attorney General’s Office is looking for owners of $722,266.99 in savings bonds and has issued public notices in each of Indiana’s major newspapers across the state to find them.
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JPMorgan Chase agrees to $905,000 settlement with state

March 2, 2016
Mason King, IBJ Staff
JPMorgan Chase has agreed to pay $905,000 in a settlement with Indiana officials over losses from mortgage-backed securities purchased in 2006, just before the controversial investment vehicle contributed to a national financial meltdown.
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Indiana probing JPMorgan's church trust practices, sources say

February 24, 2016
 Bloomberg News, IBJ Staff
Indiana securities regulators are investigating JPMorgan Chase & Co.'s handling of investments that benefited churches in the state, Bloomberg news reported, citing sources.
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Insider traders look to US Supreme Court for redemption

January 27, 2016
 Bloomberg News
Some of U.S. Attorney for the Southern District of New York Preet Bharara’s biggest catches in a seven-year insider-trading sweep are clinging to one more hope of clearing their names.
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Do-it-yourself dangers

January 27, 2016
Dave Stafford
Where there’s a will, there’s a way to do it yourself with Internet services such as LegalZoom, Nolo and Rocket Lawyer. But attorneys say relying on online form providers for long-term financial and estate planning may not be the wisest investment.
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Study commission repeal endangering probate code needs

January 27, 2016
Marilyn Odendahl
Since the Probate Code Study Commission was eliminated as part of a 2014 law that reduced the number of interim study committees, certain legislators and attorneys have mounted an effort to get the commission reinstated.
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Investment broker's plea deal erases 20 felony counts

January 25, 2016
IBJ Staff
An Indianapolis man accused of multiple felony securities fraud counts has reached a plea agreement with the Marion County Prosecutor's Office.
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Justices again suspend Anderson attorney facing multiple theft counts

January 12, 2016
Dave Stafford
An Anderson lawyer suspended from the practice of law and accused of stealing from trust and estate clients sums that could total $500,000 has drawn another suspension order for failing to cooperate with three disciplinary investigations.
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Fraud claims against insurers wrongly dismissed

December 15, 2015
Dave Stafford
Plaintiffs who purchased cash-value life insurance policies for their employees and deducted those contributions on income taxes that were later disallowed were wrongly denied their day in court against the insurers.
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Veros investors out millions could recoup more than usual

November 25, 2015
Jared Council, IBJ Staff
The receiver appointed to recover investor losses from an alleged Ponzi scheme said he’s retrieved in five months about 20 percent of what investors were owed, a figure experts say is relatively high at this stage for such cases.
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Ernst & Young faulted for relying on Madoff’s word, audits

November 10, 2015
 Bloomberg News
Ernst & Young LLP erred by taking Bernie Madoff at his word when it signed off on audits of a fund that helped feed the biggest Ponzi scheme in U.S. history. The firm then stumbled by trusting the con man’s now-disgraced ex- accountant, a jury in the first trial of its kind was told.
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  1. @BryanJBrown, You are totally correct. I have no words, you nailed it.....

  2. You have not overstated the reality of the present situation. The government inquisitor in my case, who demanded that I, on the record, to choose between obedience to God's law or man's law, remains on the BLE, even an officer of the BLE, and was recently renewed in her contract for another four years. She has a long history in advancing LGBQT rights. http://www.realjock.com/article/1071 THINK WITH ME: What if a currently serving BLE officer or analogous court official (ie discplinary officer) asked an atheist to affirm the Existence, or demanded a transsexual to undergo a mental evaluation to probe his/her alleged mindcrime? That would end a career. The double standard is glaring, see the troubling question used to ban me for life from the Ind bar right here: https://www.scribd.com/doc/312841269/Thomas-More-Society-Amicus-Brown-v-Ind-Bd-of-Law-Examiners (see page 8 of 21) Again, what if I had been a homosexual rights activist before law school rather than a prolife activist? A gay rights activist after law school admitted to the SCOTUS and Kansas since 1996, without discipline? A homosexual rights activist who had argued before half the federal appellate courts in the country? I am pretty certain that had I been that LGBQT activist, and not a pro-life activist, my passing of the Indiana bar exam would have rendered me an Indiana attorney .... rather than forever banished. So yes, there is a glaring double standard. And some are even beyond the reach of constitutional and statutory protections. I was.

  3. Historically speaking pagans devalue children and worship animals. How close are we? Consider the ruling above plus today's tidbit from the politically correct high Court: http://indianacourts.us/times/2016/12/are-you-asking-the-right-questions-intimate-partner-violence-and-pet-abuse/

  4. The father is a convicted of spousal abuse. 2 restaining orders been put on him, never made any difference the whole time she was there. The time he choked the mother she dropped the baby the police were called. That was the only time he was taken away. The mother was suppose to have been notified when he was released no call was ever made. He made his way back, kicked the door open and terrified the mother. She ran down the hallway and locked herself and the baby in the bathroom called 911. The police came and said there was nothing they could do (the policeman was a old friend from highschool, good ole boy thing).They told her he could burn the place down as long as she wasn't in it.The mother got another resataining order, the judge told her if you were my daughter I would tell you to leave. So she did. He told her "If you ever leave me I will make your life hell, you don't know who your f!@#$%^ with". The fathers other 2 grown children from his 1st exwife havent spoke 1 word to him in almost 15yrs not 1 word.This is what will be a forsure nightmare for this little girl who is in the hands of pillar of the community. Totally corrupt system. Where I come from I would be in jail not only for that but non payment of child support. Unbelievably pitiful...

  5. dsm 5 indicates that a lot of kids with gender dysphoria grow out of it. so is it really a good idea to encourage gender reassignment? Perhaps that should wait for the age of majority. I don't question the compassionate motives of many of the trans-advocates, but I do question their wisdom. Likewise, they should not question the compassion of those whose potty policies differ. too often, any opposition to the official GLBT agenda is instantly denounced as "homophobia" etc.

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