Tag Archives: Business

Dec. 3; Another Violent Day in Gary

4 Dec
by Ken Davidson

Gary Police report a shooting, a brutal battery and two armed robberies in Gary yesterday.  In a statement released by Corporal Gabrielle King, the Gary Police Department stated:

At approximately 10:00 am a 26 year old man reports he was stopped at 42nd Avenue
and Pennsylvania Street  when he was approached by a known subject who said he owed
him money. When the victim did not give the subject any money he picked up a power
tool and began to beat the victim about the head and face, then ran off with the
victims cell phone and glasses. The victim was treated at a local for the injuries
he sustained.

At approximately 6:30 pm 20 year Rollen Smith pulled up to a residence in the 2200
block of Delaware Street and was talking to some guys who were outside when shots
rang out. At that point Mr. Smith and the others fled on foot, but the shooter kept
firing and he was shot, and fell down. He was then helped up by a friend and they
went to a store on 21st and Virginia Street, where they called for help, two cars
that were parked on Delaware Street were also damaged. Mr Smith was transported to
the emergency room for treatment for his injuries.

At 6:30 pm an armed male subject entered a store in the 2200 block of W 11th Avenue
and demanded cash from the register, while pointing a gun at the cashier. Another
employee walked up and startled the gunman who then fled from the store before he
could steal anything.

Between 11:45 pm and 12:00 am a 54 year old man was given a ride to an ATM in the
2700 block of West 5th Avenue. Once they arrived at the ATM the known party demanded
that the victim withdraw some money, after doing so the suspect took the money and
fled in his vehicle and the victim ran from the area.

There were no reports of any arrests as a result of these incidents.  The Gazette will keep you updated.  Anyone with information is asked to contact the Gary Police Department at 219-881-1210.

 

Secretary of State Announces Details of Settlement w/ Teachers Union

3 Dec

INDIANAPOLIS (December 3, 2013) — Secretary of State Connie Lawson announced today that her office has finalized a settlement of a federal securities fraud lawsuit for $14 million with the Indiana State Teachers Association (ISTA) and the National Education Association (NEA).  The litigation accused ISTA and NEA of defrauding Hoosier schools out of over $27 million. ISTA and the NEA sold health plans with benefits, which were unregistered securities, to 27 school corporations. ISTA and the NEA then used the money from the health plans for their own benefit to cover funding shortfalls and for risky investments, instead of investing on the schools’ behalf as promised. The $14 million settlement will go to the school corporations to compensate for their lost investments.

“In the next ten days, school corporations will see a recovery four years in the making. Teachers and administrators alike can finally put this lawsuit behind them,” said Secretary Lawson. “They will receive 50 cents on the dollar for the money ISTA and NEA misappropriated. We strongly believe our case supported full repayment by ISTA and NEA, but we knew they were willing to spare no expense on endless litigation. This settlement gets these school corporations a much needed, immediate financial boost.”

 

ISTA offered teachers and other school employees a medical plan that allowed school corporations to invest their excess claim balances to offset future health care costs. The Secretary of State’s complaint alleges that ISTA did not invest the money as promised, but instead used the money to cover significant shortfalls in their long-term disability plan and to invest for ISTA’s own benefit. ISTA continuously issued phony financial statements to schools misrepresenting investment fund balances.

“ISTA took money from one fund to pay claims and cover deficiencies of another, then issued falsified statements to clients to create the illusion of funds,” alleged Secretary Lawson. “This is a classic example of a Ponzi scheme.

“ISTA and the NEA have repeatedly tried to play the victim and have made multiple attempts to dismiss the case. The truth is they intentionally misled those they claim to support and protect to cover their own shortfalls and to invest in risky securities for their own benefit. They have a moral obligation to repay the full amount.”

This litigation was not fought at the taxpayers’ expense.  All legal fees were paid with fines collected from violators of Indiana’s securities laws.  To maximize the recovery to schools, Secretary Lawson waived the right to levy fines against ISTA and the NEA and to seek repayment of attorneys fees.

 

Pizza Hut in Hammond reports receiving counterfeit money

21 Oct

The Pizza Hut restaurant on Indianapolis Boulevard in Hammond reported receiving counterfeit bills over the weekend. Counterfeit bills sometimes go through the system undetected and, as consumers, we must be careful not to accept counterfeit bills as change. If you get a questionable bill contact local police immediately. If you pass a counterfeit bill, even inadvertantly, you may be liable for civil damages. Intentional passing of counterfeit bills is, of course, a felony.

The US Secret Service offers the following tips for detecting counterfeit bills:

Portrait

The genuine portrait appears lifelike and stands out distinctly from the background. The counterfeit portrait is usually lifeless and flat. Details merge into the background which is often too dark or mottled.

Federal Reserve and Treasury Seals

On a genuine bill, the saw-tooth points of the Federal Reserve and Treasury seals are clear, distinct, and sharp. The counterfeit seals may have uneven, blunt, or broken saw-tooth points.

Border

The fine lines in the border of a genuine bill are clear and unbroken. On the counterfeit, the lines in the outer margin and scrollwork may be blurred and indistinct.

Serial Numbers

Genuine serial numbers have a distinctive style and are evenly spaced. The serial numbers are printed in the same ink color as the Treasury Seal. On a counterfeit, the serial numbers may differ in color or shade of ink from the Treasury seal. The numbers may not be uniformly spaced or aligned.

Paper

Genuine currency paper has tiny red and blue fibers embedded throughout. Often counterfeiters try to simulate these fibers by printing tiny red and blue lines on their paper. Close inspection reveals, however, that on the counterfeit note the lines are printed on the surface, not embedded in the paper. It is illegal to reproduce the distinctive paper used in the manufacturing of United States currency.

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