Income Store owner sentenced to 7 1/2 years in prison for website development fraud that cost investors $92 million [Yahoo! Finance]
Midland States Bancorp, Inc. (MSBI)
Last midland states bancorp, inc. earnings: 4/23 04:30 pm
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Source: Yahoo! Finance
prosecutors say caused hundreds of investors to lose more than $92 million collectively. Kenneth Courtright, 53, who operated the business out of his Minooka home, lured more than 500 investors with promises of high annual returns in perpetuity if they paid a six-figure upfront fee to build and operate websites, according to the February 2020 criminal indictment. Instead of website revenue, the returns were funded primarily by upfront fees from new investors in what prosecutors alleged was a Ponzi scheme, until the business model unraveled and the SEC froze the company's assets in December 2019. The criminal complaint revolved around the upfront wire transfers from seven investors. In July, a jury found Courtright guilty on seven counts of wire fraud following a seven-day criminal trial in Chicago federal court. A separate civil complaint filed by the Securities and Exchange Commission against Courtright and The Income Store is ongoing. Federal prosecutors had been seeking bet
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News
- Midland States Bancorp, Inc. (NASDAQ: MSBI) had its price target lowered by analysts at Stephens from $29.00 to $27.00. They now have an "equal weight" rating on the stock.MarketBeat
- Midland States Bancorp, Inc. (NASDAQ: MSBI) had its price target lowered by analysts at Keefe, Bruyette & Woods from $28.00 to $26.00. They now have a "market perform" rating on the stock.MarketBeat
- Midland States Bancorp, Inc. (NASDAQ: MSBI) had its price target lowered by analysts at Piper Sandler from $26.00 to $24.50. They now have a "neutral" rating on the stock.MarketBeat
- It's Unlikely That The CEO Of Midland States Bancorp, Inc. (NASDAQ:MSBI) Will See A Huge Pay Rise This Year [Yahoo! Finance]Yahoo! Finance
- Midland States Bancorp (MSBI) Reports Q1 Earnings: What Key Metrics Have to Say [Yahoo! Finance]Yahoo! Finance
MSBI
Earnings
- 4/25/24 - Miss
MSBI
Analyst Actions
- 4/30/24 - Stephens & Co.
MSBI
Sec Filings
- 4/25/24 - Form 8-K
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- MSBI's page on the SEC website