Straight Talk

The purpose of this blog is to provide education and news that will help clients through the litigation process.

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In 2013, brokers charged with investment fraud were sentenced to a 33 percent longer jail sentence than in the previous year, according to the North American Securities Administrators Association (NASAA). William Beatty, NASAA president and director of the Washington Securities Division, attributes the stiffer punishment to the heinousness nature of the crimes. Of the 4,882 investigations state regulators [...] Read More
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Kevin James, a former Indianapolis financial adviser, was sentenced by a federal judge to 10 years in prison and ordered to pay more than $1.3 million in restitution, after James pleaded guilty to stealing $1.4 million from 30 investors. In April, James was charged with securities fraud, mail fraud and money laundering. For 30 years, [...] Read More
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The Securities and Exchange Commission (SEC) recently imposed a $15 million fine on Barclays Capital Inc. to settle charges that it failed to ensure proper compliance with its own rules and securities laws following Barclays’ acquisition of Lehman Brothers' advisory division in 2008. The Lehman purchase resulted in the creation of Barclays Wealth and Investment Management Americas. As of [...] Read More
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A settlement appears to be imminent between the two parties involved in the case arising from the collapse of the stage right before a concert at the Indiana State Fair in 2011. The accident killed seven people, injured more than 40 and led to new regulations on the erection of riggings at outdoor events. The Defendants, Live Nation [...] Read More
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A recent article posted at IndianaLawyer.com touched on the preservation of large estates and pointed out that the key to successful estate planning is communication. With more than $7.6 trillion waiting to be inherited by baby boomers, estate planning is becoming more important especially since research from the Boston College Center for Retirement reports that [...] Read More
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The Financial Industry Regulatory Authority (FINRA) fined Morgan Stanley & Co. $4.5 million in an arbitration dispute involving Morgan Stanley and Banco Nacional de Mexico SA, the Mexican bank known as Banamex, a subsidiary of Citigroup. The $4.5 million award represents 87 percent of the $5.2 million in compensatory damages Banamex had requested. The damages were compensatory and [...] Read More
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Christ Church Cathedral in Indianapolis recently filed a lawsuit against JPMorgan Chase & Co., alleging that the bank caused the church's trusts to lose about $13 million in value because of JPMorgan's decision to purchase 177 investment products. According to the church, the products produced the highest revenues for the bank to the detriment of [...] Read More
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Date: September 19, 2014 Time: 10:45 to 11:45 am Location: Joseph Decuis 191 North Main St. Roanoke, IN 46783 Topic: Down on the Family Farm: Navigating the Unique Succession Planning Needs of Farm Families Estate planning is important for all families and business owners, but it is crucial for farm families. As a farm girl and [...] Read More
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Scott Starr and Shannon Starr will be giving a presentation on securities law at the annual Association of Certified Fraud Examiners (”ACFE”) Professional Development Conference on September 17, 2014 from 9:10am-11:05am. The conference will take place at the following location: PATCtech 5325 Decatur Boulevard Indianapolis, IN 46241 You may register for the conference here. The [...] Read More
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Indianapolis-based accounting firm DeWitt & Shrader PC agreed to settle a lawsuit brought by a receiver appointed for Samex Capital Partners, LLC involving the way it provided services for convicted Ponzi schemer Keenan Hauke. The suit alleged that DeWitt & Shrader violated the Indiana Securities Act and committed negligence and fraud, as well as breach [...] Read More