White-Collar Crime

A federal appeals court recently overturned two of multiple fraud counts against the former chief executive of a bankrupt Indiana investment firm after prosecutors didn’t back up the charges with evidence.

Timothy Durham, the former chief executive of Indiana’s Fair Finance Co., in 2012 was convicted and sentenced to 50 years in prison for his role in a fraud that cheated some 5,000 investors out of more than $200 million.

Jacobsen Rugs in downtown Syracuse, N.Y., which has been selling oriental rugs since before the Depression, filed for bankruptcy and plans sell off the more than 2,000 rugs it has left before shutting down for good.

And this time, they mean it.

In 2011, the store got a wrist-slap from then-Attorney General Eric Schneiderman for holding a going-out-of-business sale that lasted too long.

Creditors threatened with big losses in Energy Future Holdings Corp.’s bankruptcy case are demanding answers about the tax issues they say are driving the big Dallas power seller’s strategy for restructuring its $42 billion debt load. Read the Daily Bankruptcy Review article here.

This week on The Broke and the Beautiful, there may soon be some sweet news for Crumbs Bake Shop , and a jury said the Dodgers were partially responsible for the beating of a San Francisco Giants fan. Also, Joe Francis won’t give up the keys to two fancy cars.

Crumbs Bake Shop Inc . notified employees Monday that it would be closi