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Fair Finance investors aim ire at U.S. attorney

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Greg Andrews

Fair Finance Co. investors who attended an informational meeting in Ohio Jan. 26 expressed outrage at Tim Durham, the man they suspect of looting the Akron-based company.

But they also have plenty of harsh words for Tim Morrison, the U.S. attorney for the Southern District of Indiana, for not pursuing legal action to lock down Durham’s assets and those of Fair. They fear that whatever’s left of the $200 million they poured into the business will vanish while FBI and U.S. Securities and Exchange Commission investigations continue.

Morrison is supposed to be one of the good guys. The career prosecutor has been with the U.S. Attorney’s Office for two decades. Before that, he was chief deputy prosecutor in Monroe County and supervising deputy prosecutor in Marion County, where he handled sex crimes and homicides.

Morrison’s office on Nov. 24 filed a lawsuit seeking to seize Durham’s Geist mansion and other assets, but dropped it six days later. Having [received] appropriate assurance [that assets] are not being dissipated, that litigation stopped,” he said at the time.

He hasn’t explained the nature of the assurance, which presumably came from Larry Mackey, the high-profile criminal defense attorney representing Durham. (Mackey, a partner with Barnes & Thornburg, was out of state at trial and unavailable for an interview with IBJ). But whatever it was, investors and their attorneys say it lacks the weight of a court order.

In response to the latest calls for an asset freeze, Morrison would say only, “The investigation is ongoing, and issues of asset forfeiture are part of the criminal investigation.”

Indianapolis criminal defense attorney Thomas Farlow said he finds the backtracking on the forfeiture lawsuit curious.

Farlow, an attorney with Frost Brown Todd who is not representing anyone in the investigation, noted that that the U.S. Attorney’s Office normally doesn’t bring such litigation unless it is confident it will win. And he said monitoring assets without a court order would be tricky, since Durham oversaw a web of companies, many of which owe money to Fair.

Prosecutors filed the suit a month after IBJ reported that Durham had used Fair almost like a personal bank since buying it in 2002. The story said he, his associates and related firm rung up more than $168 million in insider loans—debt that might imperil Fair’s ability to repay the Ohio residents who bought investments certificates.

The suit alleged Durham ran a Ponzi scheme. Instead of putting investor money into Fair’s core business—buying short-term consumer debt—it went toward repaying earlier investors, “thereby lulling the earlier victims into believing that their money was being [handled] responsibly.”

The filing of the case wasn’t the action of a renegade. Legal observers call Morrison deliberate and conservative. And because he’s a staffer, not a nominee of President Obama, he consults with the Department of Justice in Washington, D.C., on major decisions. He’ll step out of the top job once Obama picks a U.S. attorney for the district, and the Senate confirms the selection.

Other options

Ohio Congressman John Boccieri is trying to pressure Morrison into reviving the legal fight by rallying investors to the cause. At the information meeting, he asked investors to send their personal stories to freezefairfinanceassets@mail.house.gov.

But attorneys for investors are considering strategies for taking matters into their own hands, such as filing a lawsuit seeking the appointment of a receiver or putting the company into involuntary bankruptcy.

“The risk of having this go further without going into the federal courts is, you are going to have a dissipation of assets,” said David Mucklow, an Ohio attorney who attended the Jan. 26 meeting. He held an investor meeting two days later to discuss filing an involuntary bankruptcy.

Some other attorneys representing investors question that strategy because unsecured creditors—such as the Ohio investors who purchased investment certificates—are last in line for repayment under the bankruptcy process.

But Jim Knauer, an Indianapolis attorney who isn’t representing anyone involved in the investigation, said he’s shocked investors already haven’t taken steps to put the assets under court control.

Knauer noted that the largest source of funds available for recovery are the insider loans taken out by various Durham businesses. He said making sure someone is vigilantly trying to collect on those is more important than the priority of repayment.

“One wonders, because of the incestuous relationship, how zealously those claims are being pursued at the moment,” he said.•

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  • Better aim...for addition skills
    Clarify how: "Literally immediately" one day after August 27, 2002 = August 8, 2002?

    Seriously, you are doing a fine job, but maybe you're due a little break from pouring over all the documentation...it'll be there tomorrow. Besides, why should you have to do ALL the work for the Feds?
    RELAX and enjoy the tonight's game. ;)
    • re
      Yawn, look at this....BAD! BAD!

      http://fairfinanceinvestors.com/DC_Investments_Loan_Receivables_Investments.pdf
    • re Martha
      My mother invested $0 in Fair yet I would gladly trade her circumstances for those of your family's. It is offensive reading a "financial" condition prevents your father from dressing. Watch your parent battle cancer for 3 years, see her flush and pant with the simple effort of rising from her seat. No action of hers brought about the circumstances that prevent her walking the hospital corridor to chemotherapy without stopping to rest, but she DOES rise and face it. Her burden is far heavier than your father's but she doesn't become vengeful and dspairing with it. If the Fair owners are guilty of bad business decisions then so is your father for not knowing the main rules of investing...Do NOT invest what you cannot afford to lose, the higher the return, the higher the risks and know the term UNSECURED.
      I know nothing of Fair's operations, but before you judge and convict, keep in mind we do not know that your father will never have his money. In the meantime, maybe you should take your father and his church congregation to a children's hospital or cancer ward to give them much needed perspective.
      • Fair Financial
        I just found out that my mom has $ invested with this co. What should she do? She also is retired and living on a fixed income.
      • re
        I am reading these boards because my parents have more than $150,000 of their savings in Fair and my father is too upset to even get dressed. Ironic the 1099s are mailed out from Fair but my parents can't collect any interest or get their certificates cashed in because no one is answering the phones or showing up at the offices. I know for certainty neither of them would have touched Fair Financial with a ten foot pole if they had known Timothy S Durham and James F Cochran were running amuck buying mansions and Bentleys and the like.

        For the jokesters posting on this and other boards, this is not a game. My parents and several members of their church have lost the bulk of their savings and I cannot tell you the stress this is causing, or the fabric of a church community that has been torn apart because of the avarice of two men who needed to support a lifestyle that did not belong to them. While I wish they would come clean and just own up to their fraud I don't think that will happen, and so my parents and the other investors are left penniless and with empty dreams. For that alone these guys who should be locked away for the rest of their natural lives.
        • RE Spriggs
          "BozO" could not answer to the last question I posted so he erroneously went after "who" posted.
          • What "best selling author"
            I seem to arrived to the party a little late. Who is this "best selling author" people aqre posting about? What $1 million home on a golf course.
            Clue me in, what's this got to do with Durham
          • Aha!
            I hear the FBI is investigating that disaster down in Bonita Springs.

            Bank fraud...bank fraud...bank fraud....gotta tell the truth on applications or it's bank fraud...bank fraud....bank fraud...
          • re
            best sellers list, omg, scotty, you are a hoot! best sellers list when your best friend bought how many copies and the entire enterprise of mooches bought how many...and how many "prints" does it take to make a business book a "best seller?" like 5,000 I think is the answer. 5,000 books x a royalty of $3/book is not enough of a lifestyle to fund a $1M house on the golf course, now is it...and those speeches! if i hear the comment about how you had the car accident and the customer service from your insurance company was....or how about when you repeatedly bragged and lied about the revenues of one of the "fastest growing businesses" in the US that you claimed to be co-chair of....it all makes me want to puke, how do you grow up and decide you are going to collect money to lie to people...

            If you're so successful explain why you keep having financial problems and irs liens....and why you live on this board to see what's coming next....what's coming next is charges....
            • behind of the news
              Who better to boast rank in the minute details of Durham's case than the author of the expose credited with prompting the entire ivestigation? Had I this to live up to as well as the fact that I had devoted 17 of my last 25 ibj stories to it, I would be getting a little bothered too that such a clear cut case of corruption...maybe wasn't. The rest of us have lives outside of Durham and do no make his business our life's blood nor do we have egos riding on an arrest. At the end of the day, if Fairs demise were so imminent and Durham's crimes so evident, the end result would have been the same with or without Andrews. So what real benefit is all of this to the investors?
              It is telling that among all those leaving brilliant comments here, including "supper bowel," the one you charge with "Idiocy" and "MORON" and drive away from your comment section is annually paid more for his comments than the ibj is for theirs and he has been on the best seller's list... twice.
              I don't wonder he's laughing.

              Nice call, Greggy.
            • Those feds are typing this case together nicely
              Charlotte's Web for the corrupt Indy ratpack

              kudos to Tim Morrison and the FBI group who are methodically piecemealing this case together, piece by piece

              prediction: Indianapolis turns out to have the largest public corruption case in US history since Chicago decades ago

              And we owe it all to Tim Durham. If he just had not directed those monies from Cellstar to Fair Finance, he'd be fat and happy in LA and none of this would be happening
            • Re
              Not to interject but the search warrants were only sealed to the public. There are numerous nun-public persons who saw the warrants and what was contained in them. Durham can't pay back the money, he lied, he blew the money and partied like no tomorrow, and he got caught. Period. Now he has to face the consequences and so do the mooches who helped him spend it all.
            • re ..re
              One I am the boss..so no I am not to angry with myself for posting any comments.. and two, you yourself are on here with your reply right back... so I am very much laughing!

              Two.. its interesting that you claim that you know the "reason" the FBI raid took place, does that mean you are the judge that SEALED the warrant? Because it has yet to be opened up ~ so once again, you do not have all your facts! Which goes back to my original email.... everyone thinks they know the full story, blah, blah, blah ~ do you really think you have it all figured out?
              I am done with you ~ happy hunting to you. It seems that you have a bit of an infatuation with Durham.
              Thank you for the laughs you have provided.. I can see that I got under your skin a little. ; )
              • re
                I needed to divide my post into two due to the length.

                Last, to address your comment that audited financials were only requested after the raid, that is not true. Tim's attorney previously promised to provide audited financials but never delivered them. It is true that Ohio fell asleep at the wheel, but that does not excuse Durham from failing to deliver audited financials.

                March 28, 2003:

                "...I have attached unaudted statements for your review. These statements have been attested to by the financial officer of each company. Fair will replace these statements with AUDITED FINANCIAL statements effective December 31, 2002 as soon as they are prepared. A copy of the statements, along with consents of the accountants, will be provided to the Division for review as soon as they are available."

                But, no audited financials were ever provided, were they? Had they been in 2003, the scheme would have been stopped and millions in life savings would be in CDs or dividend or preferred stock or some other type of dividend producing investment that would have preserved the principle and provided some type of income.

                It sure seems to me that they have Timmy on fraud.



              • Re
                This is the last time I will respond to your idiocy. There WERE multiple bounced dividend checks more than two months before the FBI raid. What do you think caused the raid, MORON?

                Wayne Savings Bank, Wooster--shall I name other banks (and there are others) that had to deal with the bounced checks and unhappy clients wanting the bank to refund their bounced check fees?

                If you go to work at 5am, it is very clear that you don't work hard if you are spending your time running to the IBJ board to constantly post. I doubt your employer would appreciate that.

                Save your comments, I expect Tim to be charged with both bank and wire fraud soon. Remember those many applications where he had to TELL THE TRUTH about his financial status? Better yet, how about the circulars where he was supposed to disclose that he was insolvent!

                And, if you can figure that out, pay attention to this question and answer it. How do you pay back $168 Million from a business that generated $28M in revenue and lost $1.8M?

                You don't because you can't.

                • Is that his bugatti for sale on ebay?
                  IF it is true as some posts have said that he is selling his bug on ebay (some say the VIN number is the same. Then what about this NY Times article where it said the car was leased. You cant sell a leased car!! But maybe he purchased it after the article?

                  http://query.nytimes.com/gst/fullpage.html?res=9C01E1DF1030F931A2575BC0A9619C8B63&sec=&spon=&pagewanted=all
                • dont u wish I was Porter
                  One let me set you straight since you are obviously NOT getting the full picture here. First of all, I get up at 5 am ~ and start working, so an early post or review is for my own comic relief.
                  Two I am very aware of how a 401k works,you obviously did NOT read what I said....my point was the fact that an Ohio resident had the right to invest and or keep their money in a 401(k) or annuity, or the stock market. They made a decision to instead invest their money OR life savings in a company that paid them a much higher return then they would have gotten otherwise...and with that came the RISK of losing everything!!!! So with that being said, they could have chose an option less aggressive ~ but because of greed themselves, (higher return ) they lost. Nobody cries for me when I lose in Vegas, and nobody cries for me when I invest in the stock market and end up underwater with a loss.

                  Bounced dividends checks did NOT take place with investors until the FBI did the raid and Fair had to close their doors. Many investors have even gone on the record to say that infact!!

                  I am also not on here defending Durham because I am friends with him ~ I am defending the fact that without true cause the FBI raided Fair without realizing that the Ohio Security already had what they wanted. Audited accounting was asked for AFTER the raid ~ so maybe you should really work on YOUR FACTS!

                  • SEC filing where it all began
                    Nice posting of Trevor Crook. Check out the SEC website for TD OBsidian's filing of 7/2/01 (13D) where it all began. The 1/22/01 (10K) filing of the company he took over is a good read also. I thought I saw somewhere that TD got his first break from his former father in law who had a bus compnay TD ran into the ground but was able to sell to some auto related compnay.
                  • Trevor Cook--read the similarities

                    http://www.startribune.com/business/83065717.html?elr=KArksUUUycaEacyU
                  • Re
                    Scroll down a few inches and you can see the picture of Brizzi, Durham, etc.

                    http://indianapolistimesblog.blogspot.com/2009_11_01_archive.html
                  • Tim and Mr. B at th Supper Bowel?
                    What are the chances that they show up at the SB? Remember the famous fhoto of them with the Mannings and the lady? Does anyone have the link.
                    • BRAVO Truth
                      Guessing at the players here, though he is clearly leagues below you, it is always a delight watching with what ease skill and knowledge downs a scoundrel.
                      • The Daily Dose of Durwood
                        Racing to the computer as soon as you wake up to see what tidbits are posted about Durwood, Izzi and the chain gang is actually pretty funny!

                        Did you say no one had missed a check? Um, WRONG. How about all those bounced dividend checks! Here you arguing Durwood's lies because he's too little a man to provide an AUDITED accounting of what happened to the money. I know what happened to the money--he spent it living a lavish lifestyle, and the few investments he did make--i.e. the racing team, the restaurants, Indy Mens Magazine, Speedster, marble floors and Playboy parties--were simply foolish, stupid and not profit producing that would ever have yielded a return with which to pay investors.

                        Obviously you are NO investor if you think you would pay a 20% penalty for withdrawing from a 401k I doubt you fund in the first place. And, if you look at the total amount of 401k contributions for Tim's "businesses" you can clearly see there was not enough payroll to build any nesteggs that way--not that you would understand what an indicator is. For the record, a pre-55 withdrawal is a 10% penalty plus ordinary income tax. Try to use your time posting to learn a little bit about finances.

                        Most effective Ponzi schemes like Stanford, Madoff and Durham have a legitimate business, or even many businesses--the problem is the types of businesses they have don't support the spending patterns of their owners, and the next thing you know the owner is "borrowing" thinking he can "deliver" and it snowballs. What is really interesting about this case, versus Madoff, Stanford, iks clearly Durham is not as smart as he bragged of being, because Madoff and Stanford paid for their purchases outright, they didn't "lease" Bugatti's and leverage car loans, etc! In Durham's case it is astounding to find loan after loan after loan....Sovereign Bank...Key Bank...Shelby County Bank...Morgan Stanley...Merchants Bank...Seller Notes...it goes on and on and on...
                        • re Hey Mr Motivational speaker
                          Bugger? what is that....

                          you want to actually speak a language we know or maybe use correct English? Let me help you with that definition of bugger then maybe we can try and figure out what you are even trying to say...

                          noun
                          1. Informal. a fellow or lad (used affectionately or abusively): a cute little bugger.
                          2. Informal. any object or thing.
                          3. Often Vulgar. a sodomite.
                          4. Chiefly British Slang. ~ hmmm could this be our friend Porter from UK ... LOL
                          a. a despicable or contemptible person, esp. a man.
                          b. an annoying or troublesome thing, situation, etc.
                          â??verb (used with object)
                          5. Often Vulgar. to sodomize.
                          6. Slang. damn: Bugger the costâ??I want the best.
                          7. Chiefly British Slang. to trick, deceive, or take advantage of.
                          â??Verb phrases
                          8. bugger off, Chiefly British Slang. to depart; bug off.
                          9. bugger up, Chiefly British Slang. to ruin; spoil; botch

                          Geez... can somebody help out this poor guy. LOL

                        • re so sad
                          Really? I mean Really?? A woman in Wooster died from the stress due to the loss of her life savings with Fair Fiance? Come on, life is filled with Stress! I stress every day because I sit and have watched my 401k almost disappear entirely ~ yet I cannot pull the remaining out because I am not of age without paying a 20% penalty. Maybe she just died from stupidity~ knowing SHE MADE THE DECISION, not anyone else to invest in a more risky investment that paid her higher returns than what I myself have ever made on any of my investments. Shall I claim that I will be stressing in my near future over the loss of my social security money that I pay into every single month, KNOWING it will more than likely NEVER be there for me to use when I am of age. Will you support my death of stress then ~ or will you simply say "hey, we all knew because of the baby boomers that it probably would not be there for you" Oh wait... once again we have a major difference.. see I am FORCED to pay Social Security... the investors in Ohio were not. I would love to put the money I put in social security into an annuity, but I cannot. Yes god is watching, and he might be shaking his head as well over the ignorance of such a comment made.

                          My heart goes out to the woman that passed... but you can hardly blame that on Durham. Seriously... come on.
                        • re Truth or Denial
                          Awww I know who you are, to bad the press never got a hold of all dirty little secrets before being shipped back to the UK ~ if I remember correctly, you should really be behind bars my friend!!!

                          Regardless, for somebody that THINKS they know Durham so well...oh yeah and you yourself being one of the ones that USED him and stole from him, how easily it is to FORGET that Durham had his OWN money and lots of it prior to ever owning Fair Finance!! But of coarse you dont care to mention that... its not as newsworthy to print.

                          MORE than half, once again that you have written are false lies! But then again its what you feed off of. Do you even have a job my friend?? Or is trying to trash Tim your greatest accomplishment?

                          Lets also note that Ohio has yet to find out anything done criminally wrong to any investor. You have no idea what money used with Fair funds were used no more than anyone else, anything personal very well could have been from his own personal wealth and investments wayyyyy before any investor money was available at Fair Finance. AND once again, if you read... can you actually read??? If you were to get a copy of the circular you would find that YES every investor knew that their funds were used to purchase other equities...such as cars, homes, boats etc. FYI...never was there ONE plane OWNED, muchless 3... nice try though. See you just cannot help yourself from throwing out those lies. So sad.

                          Now my friend let me assure you I do NOT agree with every business or personal decision that Durham has made (his association with you being one of them), but as far a investors with Fair Finance goes ~ once again, they had full access to read in detail how their money was invested in very CLEAR black and white. They also knew they were investing their money in a much more "RISKY" investment that was not FDIC insured. Nobody made them invest their money or life savings in this company. They could have kept their small nest egg in a 401k or money market account. ONLY difference is that when that tanked...they once again, could NOT do a thing about it. IF it sat in a bank making NORMAL interest, the principle amount was insured.... BUT the fact is, these investors wanted MORE... I think you can almost say they themselves were a little more greedy then the average person~ again they chose this investment!!! When you head to Vegas you can put everything you have on "black or red" its a 50/50 chance... unless of coarse you hit the green "0 or 00" then guess what... its gone!!! That would be a RISK...that is how Vegas was created! Shall we damn that whole city for taking mom and pops savings.... hmmmm,I do not think you can. Do you walk in a casino and read in detail what your risk is?? Hmmm I know I never had... I already knew!

                          Do I feel sorry for those that have lost, sure. I feel sorry for myself when I gamble and lose as well ~ BUT I have never gone in with blinders on. How many investors prior to the FBI jumping the gun and doing their elaborate show for the press do you know of that did NOT receive their monthly checks for their investments? Instead of diggin up all the crap you have of mainly lies, why dont you ask and/or hunt down some investors and ask if they ever had ONE missed payment to them? I assure you NONE of them ever had a missed payment. So judge and continue on with your filth and lies....its very sad no doubt ~ sad that people like you can even use a public forum to spread your lies..just like the rest of the press!!

                          Also since not being a US citizen, maybe you also do not understand that attorneys advise their clients to not speak out to papers or any other means of press~ because its not in their best interest. They can slice and dice an interview and make it appear any way they would like.

                          I am sure you will continue on.... because being a "hater" is a sad, sad thing!
                          • Rokita video on fraud has been removed
                            Guess someone didn't like the reference to Izzi and Durwood. Here's a video of Rokita lambasting Marcus for churning--at least this investors funds were placed in real products and not simply wired out to buy a Bugatti--

                            http://www.youtube.com/watch?v=1zJLyBW_66o
                          • Sad...
                            How incredibly sad this story is...to know a woman in Wooster died from the stress of her life savings now gone...to know that so many good people will do without, simply so a small group of insecure, self-absorbed "friends" can pretend to be rich...

                            It's not about the money you have in life, it is about the good you do with your life while you are on earth....God is watching, all of this, all of the time, I promise...and HE knows that you are crooks...
                            • Hey Mr. Motivational Speaker
                              Poor thing, all those IRS liens were a bugger. Now you'll have to pay your taxes and mortgage with no help. HA HA HA HA HA HA HA HA HA HA

                              (ps all business is not show business, at least the business of putting away criminals for life isn't.)
                              • re
                                Ohio did not verify the accuracy of the statements Durham made in the circular. Ohio now knows that many of the statements were false and outright misrepresentations. I'd like to know what the true aggregate amount of monies missing, I mean loans, really is. I believe it is significantly higher than $168 Million. All you have to do is look at the two mansion on Marjac and 298 Mooring Line in Naples Cochran has, the mansions associated with Tim Durham and his other friends, the cars, the yacht, the three airplanes, the wasted money to know that it adds up quickly.

                                For all the parasites, I mean "friends" of Durham who were recipients of gifts, jewelry, cars, donations, money for downpayments for house purchases, etc...I wouldn't be laughing yet...

                                http://www.huffingtonpost.com/2010/01/28/allen-stanfords-daughter_n_440884.html

                                Durham certainly never told thousands of elderly Ohio investors he would turnaround and wire their money directly to McDonald Investments to bet on stocks;

                                or to hire escorts to accompany him;

                                to hire B level actresses to appear at outrageously expensive parties with expensive entertainment, booze, etc;

                                to pay for weddings for friends;

                                to fund hundreds of thousands in donations to three most important political figures in the criminal law chain of command;

                                to spend million in legal fees defending himself for not paying his bills in the first place;

                                to buy a yacht and pay for its crew and maintenance, all of which is like throwing money away;

                                To buy three airplanes and millions in cars, and spend millions more in fixing up the cars;

                                To fund a race car team;

                                to take repeated trips to gambling junkets betting tens of thousands;

                                to buy a Bugatti, that is now for sale on Ebay, for which the dealer selling it bought it for less than half what Durham paid for it less than two years ago;

                                To rob a bank and then post a sign that says a bunch of mumbojumbo that a lay person cannot explain that is a disclaimer that you robbed the bank is no defense.

                                To the worthless mooches that have been living off of the investment certificate money, it is all over. Instead of posting ridiculous excuses on this and other boards tell Durham to make a fully audited accounting of where the money is.

                                If you believe Durham can magically turn this into a civil matter and his defense will be he is simply a bad businessman, then you are as stupid as he was to think he could get away with this forever.


                                • TRUTH
                                  Its amazing how much the media does NOT want to report when it comes the TRUTH.

                                  FACT: any/all investors had access to review the public offering that not only showed how all money was invested with their money, but it went above and beyond in extensive detail

                                  FACT: Investors made returns on their money greater than any FDIC insured institution and/or the stock market

                                  FACT: If you lose your money in the stock market or lets even say VEGAS... is it not a CHOICE that those investors made on their own FREE WILL?? (YES IT IS MY FRIENDS)

                                  FACT: Do you know that the Ohio Security reviewed their books EVERY SINGLE YEAR... and many more times through out, whenever they wanted ~ do you really think they would allowed this company to not be investigated to protect their own community!

                                  FACT: A majority of the "news" you all read as to how Fair actually worked, is a lie... there was no ponzi scheme here people

                                  FACT: Although many are "haters" of Tim, I am pretty damn sure that a majority of the people behind trying to take down Tim have MORE than taken from him themselves.

                                  FACT: Any of you ever think .. just for once.. that half the BS you are reading is ONE-SIDED..and that there really is another side to the story ~ because I assure you there is....


                                  • Rokita warns about Durham and Brizzi
                                    http://www.youtube.com/watch?v=T5vW84KhrhY&feature=player_embedded
                                  • re Stevie
                                    I paid cash for all of my land and a large majority of my home construction...3 years before meeting Tim. I still have a home loan. Regarding hairdressers, I use different ones and think highly of them all...good for them.
                                    Judging from your vocabulary skills,Stevie, if you are ever to live up to your title, it is your mouth I would advise shutting.
                                    • bugatti for sale
                                      Here is Tim's Bugatti for sale on ebay, check out the carfax.
                                      http://cgi.ebay.com/ebaymotors/BUGATTI-VEYRON-16-4-1-001-HP-922-FT-LB-TORQ-CHASSIS-80_W0QQitemZ290391145152QQcmdZViewItemQQptZUS_Cars_Trucks?hash=item439ca93ac0#ht_31341wt_1167
                                    • Question
                                      if anyone with knowledge of where the $$$ are can you please put on the board where we can garnish assets. Thanks in advance for your help.
                                    • Re
                                      do you mean "J Troutman?" as in the person handling Tim's Lewisville, Indiana house for sale?

                                      PS, Who paid for Jami's almost 12 acre New Castle land purchase in 2003 and the house she put on it in 2004?

                                      http://www.forsalebyownerbuyersguide.com/ForSaleByOwnerHomes/PropertyDetail_MapAndDirections.aspx?id=222636&src=%2FForSaleByOwnerHomes%2FBrowseFSBOCities.aspx%3FStateName%3DIndiana%26CountyName%3DHenry%26pageindex%3D0
                                      • boinking
                                        Jami you should look into your x husband that has been boinking your hair dresser for the last year and advise him to keep his mouth shut.
                                        • It is fine! Everything is fine!
                                          Difference? Durham had a bigger yacht and way more cars:

                                          http://www.businessinsider.com/11-ways-scott-rothstein-spent-his-likely-stolen-money-2009-11#the-ferrari-4

                                          http://74.125.95.132/search?q=cache:QRodFrIj8XMJ:www.obsidianenterprises.com/docs/OutrageousFortune-IndyMonthlyJan08.pdf+indianapolis+monthly+outrageous+fortune&cd=1&hl=en&ct=clnk&gl=us
                                        • IRS
                                          Don't worry, the IRS already knows....have fun in prison.
                                        • Comment
                                          Moral indignation is usually jealousy with a halo. So what he should lose it all, he had the balls, brains, and drive to get it once...I'll take that over an anonymous know it all any day.
                                          "Oh Puhleeze,"
                                          That you are possessed of a "murky" mind is evident and the only accurate fact you stated. Hiding your own identity while personally and publicly attacking the identies of others, the cowardice and lowness of this, you suffer with misfortune of charcter as well as mind. I was not aware reindeer coats were in existence or that I was in the business of earning income from them. Reindeer wear sounds like a fitting addition to the other nonsense you are peddling.
                                          • get a life
                                            wow..
                                            how easy to point fingers.
                                            just remember jealous ones...with every finger you point outward, three are pointing right back at you.
                                          • Response regarding Tim's "companies"
                                            Jami, I take exception to your post. The primary companies remaining, of record, according to Tim's own Obsidian website are:

                                            Obsidian, which consists of

                                            Classic Trailers--CLOSED

                                            United Trailers--reported part of foreclosure lawsuit against Classic for failure to pay over $200,000 due

                                            US Rubber Reclaiming--reportedly in default of $1M which was secured by the Duesenberg which is in litigation re a Connecticut bank

                                            Fair Finance--revenues last year $28M and a loss of about $1.8M--

                                            Durham's Ristorante in New Castle--open, no status update as to their finances

                                            Danzer, Indy Mens Magazine, Cibo, Vapour Lounge etc etc all closed after being run into the ground. Gross revenues of National Lampoon last quarter were less than $210,000 --yes, Two hundred thousand dollars. CLST Holdings, well, that's another black eye for Durham since the remaining cash was supposed to be paid to Verizon, wasn't it? The SEC will get to the bottom of that, I figure.

                                            The aggregate revenues of all Tim's companies could never support a debt repayment of 1/10th the outstanding loans let alone the actual amount of the outstanding "loans" which I suspect is more than $168,000,000. No bank would ever allow officers to go into client funds and just help themselves to tens of millions and then post those monies as "loans."

                                            It's obvious to me the game is over. IBJ, Indianapolis Star, Beacon Journal, Canton paper, Wooster's Daily Record, Topix, none of these caused Durham's problems. What caused Durham's problems was something miswired in him that caused him to need to pretend he was richer than everyone else. He is obviously a very, very sick individual and never should have been trusted with the life savings of Ohio residents.
                                          • Hey "Jami"
                                            How do you have any personal knowledge of what the US Attorney is or is not doing?

                                            How do you know who the owner of the yacht is? The two registered owners since inception are both Georgetown, Grand Cayman corporations set up by ______ (fill in the blank)--a bit oddly coincidental, don't you agree, that both owners are Georgetown, Grand Caymon corporations set up by a Georgetown, Grand Cayman law firm.....

                                            If this really is Jami, tell us about the landscaping and how much was spent on it and who paid for it; who paid for your house; the very, very expensive watch and jewelry, etc; who paid for the Reindeer coat and how much that cost and while you are at it clarify the rumors that you pitched a fit that it was not a real Reindeer and something to the effect of you went on Ebay to sell the coat? My mind gets murky with the details of all this wasted money.......and last let us know if you declared any of this as income on your tax returns.

                                            Since you state you know what the US Attorney and the federal government are doing, you can let us know if you have revealed the extent of what you received in funds and gifts and services to make sure we can keep track of where all the assets were deployed.
                                          • re
                                            Please, give us a break. Since you articulate a post so well, explain the following:

                                            What happened to the money Tim derived from the investment certificates? We know the houses are mortgaged and Fair is not listed as a lien holder in any searches I have found; We know the cars at mortgaged to Webster Bank and Fair is not listed as a primary or secondary lien holder; we know Durham was just scheduled to be in federal court mediation Friday in Grand Rapids, Michigan over a lawsuit filed against him for failure to pay the seller note for Classic Trailers--so he had a seller note there and Merchants Bank foreclosed him for failure to pay the bank note--no Fair Finance lien recorded against either; we know the yacht had a sizeable mortgage from Key Bank, which at the time owned McDonald Invesments, home of a large brokerage account Tim funded with cash wired from Fair Finance receipts of investment certificate funds; we know many Fair Finance investors paid in cash but there were no SARS (Suspicious Activity Reports, required under Federal Anti-Money Laundering Laws)filed by either Fair or the banks, which suggests the cash was being transported via courier to who knows where; we know that Tim Durham and Jim Cochran previously, prior to the seller-financed acquisition of Fair Finance, had no means to finance the outrageous lifestyle to which they became accustomed to AFTER the receipt of millions in investment certificate monies from Fair Finance.

                                            There is nothing wrong with a flamboyant lifestyle--if it is your personal money you are spending to live that way. Durham and Cochran withdrew the final offering request when Ohio did not back down from demanding AUDITED--not compiled, or reviewed but instead audited, showing where the money was--and insted of giving a public statement about where the money is, and an accounting signed off by a recognized forensic accounting group say nothing, and at least Cochran instead starts liquidating everything down to the potted plants in a Craigs List sale at his Naples Mansion--which he also did not own prior to Fair.

                                            If Durham and Cochran have nothing to hide, one would thing by now they would have provided a fully audted accounting of where the money is.
                                          • denial
                                            The ability of some people to deny the simple truths they see is remarkable.

                                            What is happening to Fair Finance is a classic run on the bank. If the bank were honest and operating soundly, I think there would be a profound response by Fair Finance. There has been what, one press release?

                                            The asset seizure case was supposed to be kept secret, and was dropped immediately after it was publicly noted.
                                            • so true
                                              LOOK AT THE DAMAGE YOU HAVE DONE IF ALL THE ACCUSATIONS FALL FLAT
                                            • RE: Jami Ferrell
                                              At least Tim has a former Playmate Of The Month from Muncie, Indiana in his corner. That's more than one can say about the hapless Fair investors at this point.
                                            • Durham
                                              Like it or not, Mr. Andrews, the chief law enforcement officer of the US government, the US Attorney General along with a few other highly qualified agencies and minds, those best put to the task of scrutinizing the integrity of a company, are finding no cause to prosecute Tim Durham. This strongly suggests he is not operating a Ponzi scheme with which to loot and victimize investors. At the very least he deserves a little credit for having thus far passed such a hard test. Were the media held equally accountable for the integrity of their words and headlines, this tiresome self-serving media blitz would happily be at an end. You gave us a nice little example recently: "Durham Yacht up for sale: asking price $4.8 million. The headline was a misleading lie as was evidenced in the article's final sentence. The boat was not Durhams, but how else do you sell a story in Indiana about a boat transaction in Turkey?
                                              Tim Durham is one of the most flamboyant and recognizeable names in Indiana business and as such he makes an easy and rewarding target for our state's media outlets to sell their wares. Only those in the business of publishing sensational news items and greedy over reaching and over eager bankruptcy lawyers will benefit from the downfall of Durham and inevitably his companies, the majority of Fair Finance investors being assured of their losses then. If greed motivates Durham the survival and success of Fair is vital. None can doubt a powerful business mind is hard at work to save itself through the survival of Fair; certain freedoms are at stake for investor and owner alike and it would be great if the two worked together to see the company through to the benefit of both.

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                                              1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

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