Business Services Industry
Receiver Delves into Records of Indianapolis Firms Sued by SEC.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, August, 2000 by Carey, Christopher
Aug. 23--James A. Knauer, the lawyer appointed to liquidate Heartland Financial Services Inc. and JMS Investment Group, spent his first day on the job taking inventory of their offices and trying to figure out their files.
Today, he will bring in a computer expert to try to break into their system and search their electronic records.
U.S. District Court Judge John D. Tinder named Knauer as the receiver for Heartland and JMS at the request of the Securities and Exchange Commission. The SEC alleges that the Indianapolis-based companies took in more than $30 million from investors through a handful of fraudulent schemes.
The SEC said in a lawsuit on Aug. 10 that Heartland, JMS and several related entities made few legitimate investments and...
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