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Posted on: June 23, 2014, 10:04 a.m.
The Office of the Inspector General of the U.S. Treasury Department says Elevate Ventures “intentionally misused” almost $500,000 in taxpayer funds when the state contractor invested in a company run by its board chairman. The federal funds were invested through a state-managed program designed to spur small business development. Elevate Ventures contracts with the state to manage program's investment fund, the Indiana Angel Network Fund. Full investment news article