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FBI serves search warrants on Durham-owned companies

November 24, 2009
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The FBI on Tuesday afternoon executed search warrants at two companies led by high-profile executive Tim Durham—Indianapolis-based Obsidian Enterprises Inc. and Akron, Ohio-based Fair Finance Co.

FBI agents arrived at the headquarters of Obsidian, a leveraged-buyout firm, on the top floor of Chase Tower downtown around 3 p.m. and began going through documents and carrying them to two FBI trucks awaiting on Monument Circle.

Michael S. Welch, FBI special agent in charge in Indianapolis, said the agents were executing search warrants. But he said those warrants are sealed and that the FBI would not provide additional comment.

In an investigative story last month, IBJ raised questions about whether Fair Finance had the financial wherewithal to repay Ohio investors who had purchased nearly $200 million in investment certificates.

The story reported that since Durham bought the business in 2002, he had used it almost like a personal bank to fund a range of business interests, some of them unsuccessful. The story noted that he and related parties owe Fair more than $168 million.

This story will be updated at ibj.com.


 

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  • Shannon who?
    i don't recall any posts that talked about the last name of anyone so thanks for clarifying who you are talking about. The person you just posted about has her house up for sale and boy does she have ugly taste. I think you are a friend of hers or maybe even her because you sure seem sore. So y dontcha tell us where she got the $$$ for the house and Hummer?
  • shannon frantz
    who did the post on Shannon Frantz?I will bet you have been eagar to meet her,but you know she would not give you the time of day.
    • innocence
      WHAT HAPPENED TO INNOCENT UNTIL PROVEN GUILTY
    • Factless
      Jamie, are you jealous? Weird comment to make.
    • Would love to see
      But wheres the link?
    • Factless
      Jamie needs to get some facts straight before talking about good people.
    • Karma
      Here's Tim with Kato Kaelin, known for living at OJ Simpson's guest house, at a lavish party thrown by Tim last month, complete with professional makeup artists, photographers, etc. Poor Kato--he is actually a good guy who just seems to pick bad friends.

      Tim is the chubby guy with the red wig giggling away at being the big shot at the party cuz he was paying for everything. Hey Durham, ya smiling now? There are a lot of elderly people in Ohio who are a bit upset with you.

      I can't wait til the FBI forensic accounting team goes way back to where Durham got the funds to buy Brightpoint stock.
      • treasury secretary
        I hope this does not harm Tim Durham's chance to become the next Secretary of the Treasury of the United States of America.
      • Tim Durham- financing corruption
        Tim Durham donated over $100,000 to Carl Brizzi's campaign and currently "loaned" $200,000 to Tim Motsinger for his campaign.
      • Re
        For the creepster who just posted something about rape, keep it to the subject matter at hand. Tim Durham does not have trees that grow $100 bills in his back yard. The money for the yacht, GulfStreams, mansions, millions in cars, all of it came from the elderly Ohio residents life savings he has helped himself to.

        Carl Brizzi and Tim Motsinger have received hundreds of thousands in contributions from Tim Durham. Vote for Sgt. Mark Brown for Marion County Sheriff and let him clean up corruption in Indianapolis.
      • Really?
        How'd that rape trial turn out Porter?
        • Maybe he can pay the ones he OWES
          Like the people who sold AllModelZone.com, they were totally screwed and left in a financial mess because of him.
        • TD
          Maybe he can abandon a plane and fake his death..ha
        • is he under arrest
          Is he under arrest? Fraud is all over this town. he was/is chairman of republican county party funds which is also under investigation.

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          1. Now if he'd just stay there...

          2. Daniel - what about the many US citizens who do NOT follow what the Bible teaches? The Hindus, Jews, Muslims and others who are all American citizens entitled to all rights as Americans?? This issue has NOTHING to do with "What the Bible says..." Keep all Churches separate from State! Pence's ongoing idiocy continues to make Indiana look like a backwards, homophobic state in the eyes of our nation. Can't we move on to bigger issues - like educating our kids?

          3. 1. IBJ should link to the referenced report. We are in the age of electronic media...not sharing information is lazy. Here is a link http://www.in.gov/gov/files/Blue_Ribbon_Panel_Report_July_9_2014.pdf 2. The article should provide more clarity about the make-up of this panel. The commenters are making this item out to be partisan, it does not appear the panel is partisan. Here is a list of the panel which appears to be balanced with different SME to add different perspectives http://www.in.gov/activecalendar/EventList.aspx?view=EventDetails&eventidn=138116?formation_id=189603 3. It suggests a by-pass, I do not see where this report suggests another "loop". 4. Henry, based on your kneejerk reaction, we would be better off if you moved to another state unless your post was meant as sarcasm in which case I say Well Done. 5. The article and report actually indicates need to improve rail and port infrastructure in direct contradiction to Shayla commentary. Specifically, recommendation is to consider passenger rail projects... 6. People have a voice with their elected officials. These are suggestions and do not represent "crony capitalism", etc. The report needs to be analyzed and the legislature can decide on priorities and spending. Don't like it, then vote in a new legislature but quit artificially creating issues where there are none! People need to sift through the politics and provide constructive criticism to the process rather than making uninformed comments in a public forum based on misinformation. IBJ should work harder to correct the record in these forums when blatant errors or misrepresentations are made.

          4. Joe ... Marriage is defined in the Bible ... it is mentioned in the Bible often. Marriage is not mentioned once in the US or Indiana Constitution ...

          5. Daniel - Educate me please: what does the Bible have to do with laws? If the government wasn't in the business of marriage to begin with, then it wouldn't have to "define" marriage at all. Marriage could be left as a personal, religious, or otherwise unregulated action, with no ties to taxes, legal status, etc. Then people could marry whomever they want, and all this silliness would go away. Remember to vote Libertarian in November.

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