IEDC board OKs public release of forensic audit of agency, affiliated entities
Gov. Mike Braun ordered the audit in April, citing unspecified concerns about transparency at the Indiana Economic Development Corp. and its related entities.
Susan Orr, Indianapolis Business Journal
Articles
DOC to request $15.8M for planned immigration detention site
The funding request, which is summarized in the agenda for Wednesday’s State Budget Committee meeting, says the agency needs the funding to prepare the correctional facility for ICE detainees.
Carmel software firm reaches settlement in legal dispute with former business partner
Carmel-based software firm Max Minds LLC has reached a settlement in its legal dispute with a former business partner, Ashland, Virginia-based Triangle Experience Group Inc.
IEDC leader to depart as part of ‘evolution’ of agency
Jeff Blade has served as the Indiana Economic Development Corp.’s executive director for less than a year.
Former credit union manager indicted on fraud charges
The former manager of a credit union branch in Indianapolis has been charged after investigators say she stole more than $350,000 from customer accounts.
$2M Geist home at heart of Drive Planning legal battle
Nearly a year after a federal judge placed Georgia-based financial firm Drive Planning LLC into receivership, the court-appointed receiver is still wrestling to gain control of the $2 million Geist mansion where the now-defunct firm’s managing partner lives.
Legal troubles at Jack’s Donuts concern some local franchisees
Since last fall, four creditors have sued Jack’s Donuts of Indiana Commissary LLC for money they say they’re owed. Of those four cases, two have resulted in judgments against Jack’s totaling just over $888,000.
Pittsboro residents ask court to halt planned Hendricks County data center
Pittsboro officials annexed the property into the town late last year. In March, Pittsboro’s town council unanimously approved Vantage’s request to rezone the land.
Customer lawsuit against Carmel-based CNO headed for trial
The class-action litigation, in which former CNO customers say they were overcharged for life insurance, is scheduled for trial in June. About $70 million is being sought for the 2,000 or so class members.
Elevate says state funding freeze endangers startups, entrepreneurial community
Commerce Secretary David Adams announced last week that the state had frozen funds earmarked for Elevate Ventures, but he did not outline specific concerns about the nonprofit or its operations.
Braun arranging for independent IEDC audit amid transparency concerns
Gov. Mike Braun confirmed Tuesday he is arranging for an independent audit of Indiana Economic Development Corp.’s spending and accounts, just weeks after he ordered more transparency for the agency’s nonprofit foundation.
Some Indiana companies quietly pull back DEI push
Whether out of fear of losing federal funding, a desire to avoid litigation or a reluctance to seem political, organizations are changing the way they talk about diversity—if not outright cutting back on their pro-diversity efforts.
Regulatory panel denies Stifel’s claim against Indy competitor
A financial industry arbitration panel has ordered Stifel, Nicolaus & Co. Inc. to pay $7 million in attorney’s fees to a group of former Stifel advisers in Indianapolis.
Hendricks County brothers named in dozens of lawsuits over real estate deals
More than 200 residential properties around Indianapolis are connected to at least one of the more than two dozen active lawsuits that investors, lenders and contractors have filed against brothers Jeremy and Joshua Tucker.
Sales-tech firm Kennected facing lawsuit from creditor
Ultimo Global Holdings LLC alleges that the company has defaulted on a $1 million promissory note.
Ex-Noblesville businessman faces federal money-laundering indictment
A federal grand jury has returned a superseding indictment that charges Maximiliano Pilipis, 53, with five counts of money laundering and two counts of willfully failing to file a tax return.
Carmel financial firm, CEO face another investor lawsuit
A Mooresville investor is alleging that Carmel-based retirement planning firm ReJoyce Financial LLC and CEO Alexander Joyce misappropriated more than $200,000 that she had deposited with the firm to invest on her behalf.
Indiana’s tech sector saw boost in venture investing activity in 1Q, report says
Indiana’s tech companies landed a combined $348.8 million in venture funding last quarter, which was the strongest first-quarter activity since recordkeeping began in 2015, TechPoint says.
FullBeauty Brands faces patent litigation over swimsuit styles
FullBeauty Brands Inc., an online apparel retailer with a significant Indianapolis presence, is facing a lawsuit alleging that several of its swimsuits too closely resemble a competitor’s products.
Companies seek liability protection for top execs
A growing number of companies in Indiana and elsewhere are hoping to offer new legal protection for top executives following a 2022 change in Delaware’s corporation law.