IBJNews

Brizzi agrees to pay Fair Finance nearly $200K

Back to TopCommentsE-mailPrintBookmark and Share

Former Marion County Prosecutor Carl Brizzi and his campaign committee have agreed to pay Fair Finance Co.’s bankruptcy trustee $195,881—by far the largest settlement with a politician who received campaign contributions from the company’s CEO, indicted Indianapolis financier Tim Durham.

Under the deal filed Monday in U.S. Bankruptcy Court in Akron, Ohio, the Brizzi for Prosecutor Committee will repay all $170,881 donated by Durham, Fair Finance and affiliated companies.

In addition, court papers show that bankruptcy Trustee Brian Bash alleged that Fair Finance and Durham provided Brizzi with personal loans and financial assistance totaling $55,735 for trips and miscellaneous expenses.

Brizzi disputes the amount, according to the settlement, but agreed to pay $25,000. Though the deal requires court approval, Brizzi’s campaign committee already has provided the trustee with a $170,881 check, and Brizzi has provided a $15,000 check. He’ll pay the remaining $10,000 in monthly installments of $1,000, the settlement says.

Brizzi did not return a call from IBJ, but in a text message to a reporter with WRTV-TV Channel 6, he wrote: "It's time for that chapter to close."

David Proano, a Cleveland attorney representing the bankruptcy trustee, declined to comment.

The trustee for months has been negotiating with Indiana politicians who were beneficiaries of Durham’s largesse before his financial empire collapsed two years ago. The trustee contends the payments were fraudulent transfers because they were made when Durham and his companies were insolvent.

The trustee since early 2010 has been trying to recover money for Fair Finance's investors—Ohio residents who purchased unsecured certificates with interest rates as high as 9.5 percent. Bash alleges Durham “utterly looted” Akron-based Fair after buying it in 2002, stripping the business of the financial wherewithal to repay more than 5,000 investors who are owed more than $200 million.

Before his downfall, Durham was one of the largest contributors to Indiana politicians, particularly Republicans. The trustee expects to recoup a total of about $115,000 from six earlier settlements with campaign committees and politicians who'd received Durham donations. The highest-profile office-holder to settle so far is Speaker of the House Brian Bosma, who returned $10,000. Gov. Mitch Daniels, who received about $200,000 in Durham donations, hasn’t reached a deal.

Brizzi, once considered a rising star in Republican politics, didn't seek re-election in 2010 following criticism over his ties to Durham, a friend who served as his 2006 campaign finance chairman. Brizzi now is in private law practice.

Durham and two business partners, James Cochran and Rick Snow, were arrested in March after being indicted on 12 felony counts, including conspiracy to commit wire and securities fraud. They deny wrongdoing.

More of IBJ's coverage of Durham and Fair Finance can be found here.
 

ADVERTISEMENT

  • Where is Mitch now?
    Where are you Mitch, how about returning the 200k of STOLEN MONEY Mr. Durham stole to give to your campaign ? Would that not be the decent thing to do?
  • come clean and Mitch Daniels dont match
    Waitng for Mitch Daniels to come clean and pay back his contributions is not going to happen. Ask the employees at IPL and ask IBM. Better yet ask ...... anyone who knows him. SMS = short man syndrome - he crys and rants and raves until he has things his way. Remember way back when at a time where he equated a move made by then Mayor Peterson to be a act of terrorism. HUH. not my man!
  • Karma
    Surprised the trustee didn't tell Carl to surrender the income from the Elkhart property.

    Hmmm...maybe someone needs to see if Carl et al have sold or stripped the equity out of it....L&BAB....

    Since Carls positions in Red Rock and CLST are worthless.... Can someone explain Carls timely purchases of both.... Massive purchases of both....is that what Timmy lent him the $$$ for?

    Carl can tell us--one can only guess he is " stalking " the board tonight.... Hahahaha
  • I believe Mitch will never pays back...like the IBM contract.

    I would guess that Mitch will use the special privileges of the governor to avoid ever paying back the funds, much like he has done when he selected IBM for welfare processing and then broke the contract. Mitch, as governor, cannot be forced to testify. (I would guess it would be much like the Durham dealings if disclosed in court.) ]
  • Now it's Mitch Daniels' turn
    I suppose paying back dirty money under duress is better than not at all. Now we need to collect the $200k he gave Mitch Daniels.

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Angela IS the best RD

  2. We are a nation of speed. All of our younger lives are filled with deadlines, quotas and bottom lines. We start to ease out of the pressured rat-race when we finally see "retirement." The most enjoyable travel on the planet is passenger rail service. Indy to Chicago does not beat Megabus or Southwest Airlines in speed. Passenger rail however has the best seating, mammoth legroon, seat backs that recline to more than 45 degrees and employers that really want you to return as a customer. Indiana municipalities need to maintain subsidies to support this transportation mode. Losing it is loss for all of us.

  3. Good day! I just want to testify how i got my loan from Mr. Eric Lefkofsky after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan. Until a friend of mine introduce me to this popular Mr. Eric Lefkofsky who promised to help me and indeed he did as he promised without any form of delay. I never thought there are still reliable loan lenders until i met Mr. Eric lefkofsky who indeed helped me with the loan and changed my belief. I promised to share this testimony after I got my loan. I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr. Eric Lefkofsky via their email{grouponfunding@hotmail.com}

  4. Its a THUG issue. Bleecker Street and NYX are thug bars. They attract thugs of all races. Places that attract thugs need to be kicked out of Broad Ripple. Ain't nobody got time for that!

  5. Hello everyone, My name is Marian Gareth, I am from the Texas, United State, am here to testify of how i got my loan from Mr Andre Frank {frankloancompany@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right in this forum,i thought their lending where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Andre Frank the C.E.O of Andre Frank Loan Company who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Andre Frank, who really help me with my loan and changed my lief for better. I don't know if you are in need of an urgent loan, free feel to contact Mr Andre Frank on his email{ Frankloancompany@yahoo.com} for help

ADVERTISEMENT