Prosecutor: No charges against Ball State in investment scandal that cost it millions

Last edited Sat Aug 6, 2016, 05:14 AM - Edit history (1)

MUNCIE — A Ball State University financial officer did not violate Indiana securities law when she made investments withtwo men later convicted of stealing $13.1 million from the school, a prosecutor said.

Extensive reviews of records obtained by subpoena did not reveal any evidence of state securities violations, Delaware County Prosecutor Jeff Arnold told the (Muncie) Star Press for a story published Friday.

“While Ball State University was hopeful that other criminal charges could have been brought forth, after careful consideration with regard to the incident of investment fraud at Ball State University, including a summary report from the Indiana Secretary of State’s securities division, no additional charges will be filed,” Arnold said in a statement to the newspaper.

Criminal investigations of former Ball State investment director Gale Prizevoits by federal prosecutors and the Indiana Secretary of State also produced no charges.

http://www.heraldtimesonline.com/news/state/prosecutor-no-charges-against-ball-state-in-investment-scandal-that/article_afa517f0-5efe-5d8a-9b60-4259ee35a20e.html (short article)