Federal prosecutors in late April accused the Indianapolis-based trucking company Celadon Group Inc. of engineering a sweeping accounting fraud that hid losses in the tens of millions of dollars, and they announced a felony charge against one of the company’s former executives. But if the fraud was so sweeping, why did prosecutors charge just one person and spare other former top executives (at least so far)?
A lawsuit quietly wending its way through a Marion County court zings former HHGregg CEO Bob Riesbeck and three other insiders of the failed chain, alleging they allowed it to continue accepting customers’ deposits on merchandise long after its tailspin cast doubt on whether it had the financial wherewithal or inventory to fulfill the orders.
The ringleader in one of the largest corporate-fraud cases in Indiana in recent years is asking a judge to throw out his felony convictions on the grounds that his legal team at the Indianapolis law firm Barnes & Thornburg failed to disclose a “profound conflict of interest.”
A federal judge late last week awarded plaintiffs’ lawyers $31.05 million in legal feels in the Anthem Inc. data breach case, ending a months-long dispute over how much they deserved for striking the $115 million settlement last year. The fees were less than the $38 million the attorneys originally had requested.
Former ITT Educational Services Inc. CEO Kevin Modany has agreed to pay $200,000 and accept a five-year ban from serving as an executive of a public company to settle a Securities and Exchange Commission lawsuit accusing management of hiding the rapidly eroding financial condition of the now-defunct firm from investors. Former ITT Chief Financial Officer Daniel Fitzpatrick agreed to pay $100,000 and accept the same ban under a separate settlement.
Some Anthem Inc. customers were unimpressed by the $115 million data breach settlement deal, and even less so by the attorneys' fee request. California federal Judge Lucy Koh also blistered the attorneys about their fees in open court in February.
You knew the fraud case against former American Senior Communities CEO James Burkhart was going to be a battle royal once Burkhart enlisted the indefatigable defense attorney Larry Mackey, who won acclaim for prosecuting the Oklahoma City bombing suspects two decades ago.
Indianapolis' Capital Improvement Board has failed in its effort to avoid getting entangled in a legal dispute between the IRS and Mel Simon’s widow stemming from Mel’s sale of his half of the Indiana Pacers to his brother Herb in 2009.