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FBI raids financial services firm in Westfield | 2017-10-12 | Indianapolis Business Journal


FBI officials raided the offices of a financial services company in Westfield on Thursday morning, local media outlets have reported.

According to news accounts, agents were spotted on-site at Banc-serv at 777 E. Main St. The company provides services for small-business lenders..

But the FBI is being tight-lipped about what’s actually happening.

“I can confirm investigative activity in the area, but the nature of that activity I can’t confirm,” said Chris Bavender, a spokeswoman for the FBI’s Indianapolis office.

On its website, Banc-serv describes itself as having 40 employees who work with more than 400 lending partners in 45 states.

IBJ called Banc-serv Thursday and left a phone message that was not immediately returned.

Founded in 2002, Banc-serv provides credit analysis, packing, closing compliance and other services for lending institutions. Its president and CEO is Kerri Agee, who was a member of the 2008 class of IBJ’s “Forty Under 40” feature.

Banc-serv was acquired by New York-based Newtek Business Services Corp. in June 2016 for $5.4 million in cash. Newtek said at the time that it would retain Banc-serv’s management team as part of the agreement.

Newtek shares were up 2 cents to $17.90 in early afternoon trading on Thursday. The firm’s share price is near its 52-week high of $18.16.

Newtek did not immediately return a call for comment.

 

 



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