IBJNews

Durham asks to move back into his mansion

Back to TopCommentsE-mailPrintBookmark and Share

Indicted financier Tim Durham has asked a federal judge to allow him to move from his sister’s home in Geist back to his own, 20,000-square-foot mansion in Fortville.

Durham has been living on home detention at his sister’s house since his April arrest on 12 felony counts.  

His motion to move to his mansion was made under seal. But federal prosecutors, in an objection filed on Monday, said Durham made the motion because his sister is concerned for her safety due to threats made against Durham.

Prosecutors argued that allowing Durham to live in a house built partly with Fair Finance Co. investor money is “tantamount to letting him enjoy the fruits of his crime, as alleged by the grand jury.” The judge has not ruled on his request.

A 23-page grand jury indictment alleges that Durham and business partner James F. Cochran worked with former Fair Finance Chief Financial Officer Rick D. Snow to devise and execute a scheme to defraud investors in the Akron, Ohio-based company.

Authorities say that after Durham bought Fair in 2002, he doled out related-party loans with abandon, leaving the company unable to repay Ohio residents who purchased unsecured investment certificates boasting interest rates as high as 9.5 percent. More than 5,200 investors are owed more than $230 million.

Durham, Cochran and Snow have denied wrongdoing.
 
Further objecting to Durham’s latest motion, federal prosecutors argue that he should not be living in a house that is in foreclosure due to his own inability to maintain mortgage payments.

They also believe two of the three individuals living in Durham’s mansion are potential witnesses in their case against him. Durham said in his motion that one of the individuals has agreed to move out if his request is granted.

“If Durham does not want to live with his sister any longer, he should be given an opportunity to find a residence that is not implicated in the fraud and where potential witnesses do not also reside,” prosecutors wrote.

Last month, Judge Jane Magnus-Stinson denied Durham’s request to relax restrictions of his home detention. He had asked the court to modify the conditions of his release to visit his attorney’s office more frequently and to travel to California up to 12 days a month.

Durham is acting CEO of National Lampoon Inc. in Los Angeles.

 

ADVERTISEMENT

  • Why not stay in Jail
    What is Tim Durham to good to cool his heels in county lock-up???? If his life is being threatened he has no one but his greed self to blame! How many folks are just trying to get by on meager savings an SSI. I think every thing should be taken and sold. Keep a pair of jeans, shirt, boots and a coat. He should have to payback every red cent. Sick of crooks like this always getting the breaks.
  • Invitation
    Mr. Durham can stay at out farm and work off what he took from us. Alternatively be can hide away from his detractors in our local jail.
  • Sister
    Doesn't his sister have children? She's concerned about her safety and not her chilldren's?
    Can he prove the death threats or is he using that as an excuse to move back to the mansion?
  • Sister's house
    The house he is living in with his siter is also in Foreclosure
  • Why??
    Who is, and why are people living in this house? Why isnt this in the article...duh. If i forclosed on my house I doubt the bank would let other people live there while in foreclosure. It's crazy how the rich live by a completely different set of rules than a us middle classers. Exactly why we need a full turnover in the house and senate.
    • He has options
      For everyones safety, maybe he should go back to the halfway house on Capitol Avenue, Prison in Pendelton, or maybe call Mitch about using the empty Governor's mansion.

    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. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

    2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

    3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

    4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

    5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

    ADVERTISEMENT