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Fraud
Much of trustee’s suit against Fair Finance lenders dismissed
November 12, 2012
Scott OlsonFair Finance Co.'s investors have been dealt a blow by a federal judge who dismissed a bankrutpcy trustee's lawsuit
against one of the company’s deep-pocketed lenders.
MoreInvestor accused of defrauding burned-down church
November 8, 2012
Associated PressFederal prosecutors have filed fraud charges against an investor who they say misspent nearly $400,000 that leaders of an
Indianapolis church gave him as it tried to raise more money to rebuild from a fire.
MoreDurham lawyer balks at proposed 225-year sentence
November 1, 2012
Greg AndrewsThe attorney for convicted Ponzi schemer Tim Durham argues that the presentencing report miscalculates the losses suffered
by investors, includes a range of allegations that weren’t proven at trial and blames his client for events outside
his control.
MoreLegal fees nearing $9M in Fair Finance bankruptcy
October 17, 2012
Cory SchoutenThe trustee in the Fair Finance bankruptcy case and his law firm have run up legal bills approaching $9 million, nearly double
the recoveries they've achieved to date for investors victimized by convicted fraudster Tim Durham.
MoreEx-Countrymark CEO denied early prison release
August 23, 2012
Scott OlsonDavid Swanson had argued that his lawyers were derelict in not seeking a mistrial stemming from his 2002 conviction on wire
fraud, money laundering and tax evasion charges. A federal appeals court on Wednesday affirmed his 12-year sentence.
MoreFormer Durham exec ordered to pay $30,000
August 22, 2012
Scott OlsonFormer Obsidian Enterprises Inc. President Terry Whitesell will pay the amount as part of a settlement agreement. A bankruptcy
trustee representing investors of Fair Finance Co., owned by convicted financier Tim Durham, had sought more than $225,000
from Whitesell.
MoreDon Marsh fighting to keep jury from learning he took Fifth
August 18, 2012
Greg AndrewsAttorneys for Don Marsh are trying to ensure that his refusal to answer questions during a 2010 deposition doesn’t come
back to haunt him when Marsh Supermarkets' lawsuit against him goes to trial in October.
MoreLocal attorney facing fraud charges released from jail
July 31, 2012
Scott OlsonLawyer William F. Conour had been held in a Decatur County Jail since July 25 on a contempt of court charge until a judge
on Monday ordered his release. Conour is accused of defrauding clients of $2.5 million.
MoreLocal attorney facing fraud charges resigns from bar
July 6, 2012
High-profile Indianapolis attorney William F. Conour, 65, who is accused of misappropriating $2.5 million in client funds,
has relinquished his law license to the Indiana bar.
MoreOutlook improves for Fair Finance investors
June 23, 2012
Greg AndrewsA New York firm is contacting Fair Finance Co. investors seeking to purchase their bankruptcy claims—a sign of growing
optimism that investors in the defunct business will secure a sizable recovery.
MoreDurham attorney vows to appeal guilty verdict
June 21, 2012
Cory SchoutenAn attorney for convicted fraud mastermind Tim Durham vowed Thursday to appeal the case to the U.S. Supreme Court if necessary
to prove his client did nothing wrong.
MoreJury begins deliberations in Durham fraud trial
June 20, 2012
Cory SchoutenThe jury began deliberations Wednesday morning in the federal fraud trial of financier Tim Durham and two co-defendants.
MoreDurham trial closing arguments provide clashing accounts
June 20, 2012
Cory SchoutenThe prosecution described Tim Durham as "the mastermind" of a Ponzi scheme, while partner Jim Cochran acted as the
front man who lied "to people's faces," and Chief Financial Officer Rick Snow served as the "backroom numbers
guy."
MoreProsecution rests after testimony from Fair Finance trustee
June 18, 2012
Cory SchoutenAttorneys for Tim Durham and his co-defendants are expected to start their defense Tuesday morning and wrap it up in the afternoon.
The jury is expected to begin deliberations Wednesday.
MoreFair Finance CFO staying out of prosecutors' crosshairs
June 16, 2012
Greg AndrewsRick Snow, Fair Finance Co.'s former chief financial officer, isn't accused of collecting insider loans like co-defendants
Tim Durham and Jim Cochran. But he's facing the same felony charges.
MoreAUDIO: Wiretaps capture Durham, co-defendants scrambling
June 15, 2012
Greg Andrews, Mason King, Cory Schouten
A series of government-recorded phone calls have provided some of the most riveting courtroom moments during
the fraud trial of Tim Durham and two co-defendants.
Trial evidence shows desperation in Fair Finance's final days
June 14, 2012
Cory SchoutenThe men who presided over Ohio-based Fair Finance were at their wits end by late 2009. In government-recorded phone calls
and intercepted e-mails introduced as evidence in U.S. District Court this week, they come across as exhausted, angry and
determined.
MoreVIDEO: Fair Finance investor's family lost $475K
June 13, 2012
Cory Schouten
Donald Russell, a retired deputy sheriff, is among the more than 5,000 clients of Fair Finance who lost big investments
with the Ohio firm. After testifying on Tuesday during the fraud trial for Fair owner Tim Durham, he shared his story with
IBJ.
Durham trial: Fair Finance controller details cash crunch
June 12, 2012
Cory SchoutenThe former controller at Fair Finance is testifying at the fraud trial of Tim Durham as a star witness for the federal government
in exchange for immunity from prosecution.
MoreDonald Fair leads off government's case against financier Durham
June 11, 2012
Cory SchoutenThe man whose father founded Ohio-based Fair Finance during the Great Depression led off the government's case on Monday
against the Indianapolis men accused of looting the company and leaving its investors with $200 million in losses.
MoreJudge, attorneys in Durham trial look for jurors untainted by media reports
June 8, 2012
Cory SchoutenA federal judge and a handful of attorneys are selecting jurors who could determine the fate of indicted financier Tim Durham
and his co-defendants. The jury-selection process, which began Friday morning, launched what's expected to be a three-week
trial over alleged wire and securities fraud.
MoreJury selection set to start in Durham fraud trial
June 8, 2012
Greg AndrewsThe criminal case against Tim Durham and co-defendants Jim Cochran and Rick Snow is set to begin Friday in front of federal
Judge Jane Magnus-Stinson. Prospective jurors in the high-profile trial will be asked whether they can be impartial and not
be influenced by what they have heard, read or seen about the case.
MoreDurham lawyer wants lifestyle out of trial
June 2, 2012
Greg AndrewsTim Durham’s attorney is hellbent on preventing prosecutors from fixating on the things that made the Indianapolis financier
a staple of TV news and gossip columns—his fancy cars, waterfront mansion and other trappings of a lavish lifestyle.
Durham's trial is set to begin on Friday.
MoreLawsuit takes on debt-modification firm
May 26, 2012
Chris O'MalleyA lawsuit filed in Georgia against an Indianapolis firm that helps consumers settle debt is just one in a parade of complaints
targeting the industry.
MoreDan Laikin spurred probe of Tim Durham, filings reveal
May 19, 2012
Greg AndrewsThe FBI had been investigating Tim Durham since March 2009, when his friend Dan Laikin, a Fair Finance board member, offered
up incriminating information on the Indianapolis financier in hopes of securing a lighter sentence for himself in an unrelated
case.
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Three Magi
Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.
Does the buyer get to keep the recent Accu-Chek J.D. Power award? Be careful, those Swiss cannot be trusted. Last June they pimped Mayor Ballard and former Governor Daniels at a media op, announcing plans to invest "$300 million at its Indianapolis headquarters, creating up to 100 new jobs by 2017," only to turn around and close the Roche Nutley, NJ facility and eliminate 1000 jobs there later the same week. It seems that healthcare can be innovated only as long as money is to be made. Right now Roche seems to have big eyes for China: there are many Chinese in China and potential billions in Swiss francs! Since Roche is having difficulty with US insurance companies swallowing the bill for overpriced cancer drugs (with debatable efficacy) why not sell insurance to the Chinese and market the drugs to them there? There is a name for these sort of business practices however proper decorum precludes it use in this forum.
Same kind of Luddites who oppose I-69. Guessing their 501(c)(4) application probably sailed right through the IRS.