Kokomo Tribune; Kokomo, Indiana

Breaking News

June 12, 2014

Ball State says feds asked for quiet about fraud

Muncie — A top Ball State University administrator says the school kept quiet for more than two years about an $8 million securities fraud at the request of federal law enforcement authorities.

University treasurer Randy Howard says the school first learned about the troubled investment in 2011 and reported it to investigators. The investor involved was sentenced last week to four years in prison on federal wire fraud charges.

Howard tells The Star Press that investor Seth Beoku Betts worked with a single Ball State employee who mischaracterized to her supervisors the 2008 investment in collateralized mortgage obligations. That employee was fired in 2008.

Indiana University law professor Antony Page says the case shows Ball State didn't have adequate internal controls over investment decisions.

 

1
Text Only | Photo Reprints
Breaking News
Latest news
Featured Ads
Only on our website
AP Video
Renewed Violence Taking Toll on Gaza Residents 2 Americans Detained in North Korea Seek Help US Employers Add 209K Jobs, Rate 6.2 Pct House GOP Optimistic About New Border Bill Gaza Truce Unravels; Israel, Hamas Trade Blame Raw: Tunisia Closes Borders With Libya Four Rescued From Crashed Plane Couple Channel Grief Into Soldiers' Retreat WWI Aviation Still Alive at Aerodrome in NY Raw: Rescuers at Taiwan Explosion Scene Raw: Woman Who Faced Death Over Faith in N.H. Clinton Before 9-11: Could Have Killed Bin Laden Netanyahu Vows to Destroy Hamas Tunnels Obama Slams Republicans Over Lawsuit House Leaders Trade Blame for Inaction
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Obituaries
Poll
Kelly Lafferty's video on Tom Miller