Ivy Tech Community College-Northeast has named alumnus Jon-Paul Capito champion of the school’s 2012 New Venture Competition.

The entrepreneur will receive $20,000 toward his custom handmade shirt and jacket business, DeRossi, in addition to a voucher to attend a Disney Institute event at Ivy Tech and a one-year membership with the Greater Fort Wayne Chamber of Commerce.

“It’s a dream come true,” Capito said in a statement Friday. He has been accepting orders for his products online at www.derossico.com.

“I believe the factors that added to his win included his low start-up cost and high profit margin,” Jim Tolbert, business administration faculty member, said in a statement.

JB Tool, Die & Engineering Inc. of Fort Wayne donated the $20,000 for the New Venture contest.

Peter Madoff pleads guilty, blames brother

The younger brother and business partner of disgraced financier Bernard Madoff pleaded guilty Friday to charges that he doctored documents for years, but he insisted he knew nothing about his brother’s historic Ponzi scheme and was “in total shock” when he found out about it.

An emotional Peter Madoff, 66, entered the plea in a deal that permits him to remain free on $5 million bail pending his Oct. 4 sentencing. He agreed not to contest a 10-year prison sentence and emerged from the courthouse into a rush of cameras and a car that awaited him.

“My family was torn apart as a result of my brother’s atrocious conduct,” he said. “I was reviled by strangers as well as friends who assumed that I knew about the Ponzi scheme.”

The plea to charges of conspiracy and falsifying records came in the Manhattan courthouse where Bernard Madoff was led away in handcuffs in 2009 to serve a 150-year sentence. Federal prosecutors said the investigation was ongoing.

Apple said to prep iTunes changes

Apple plans an overhaul of iTunes that would mark one of the largest changes to the world’s biggest online music store since its 2003 debut, according to people with direct knowledge of the matter.

Apple will unveil the changes by year’s end, said the people, who asked not to be identified because the plans aren’t public.

The company will more closely integrate its iCloud file-storage service with iTunes so users can more seamlessly access and manage their music, videos and downloaded software apps across different Apple gadgets, the people said. Apple also plans new features for sharing music, the people said.

Any changes will have implications for the media industry, because the store is the gateway for millions of iPhone, iPad, iPod and Mac users to buy music, movies and television shows.

Tom Neumayr, a spokesman for Cupertino, Calif.-based Apple, declined to comment.

USDA increases planted corn estimate

The U.S. Department of Agriculture says farmers planted 96.4 million acres of corn this spring, up 5 percent from last year.

It’s the largest number of planted acres since 97 million in 1937. The revised estimate, based on early June farm surveys, is up from May’s estimate of nearly 92 million acres.

The USDA says farmers expect to make more profit from corn than other commodities.