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Fraud
Ex-Indiana University player Leary pleads guilty in fraud
July 16, 2010
Associated PressTodd Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds.
His agreement with prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly
$295,000 in restitution.
MoreTrustee sues real estate exec for $115M
July 10, 2010
Cory SchoutenThe founder of an Indianapolis real estate firm is accused of preying on longtime friends to help a Miami man perpetrate a
$900 million Ponzi scheme. Sydney “Jack” Williams persuaded more than a dozen Indiana investors to lend millions
of dollars at high interest rates to a food brokerage firm called Capitol Investments USA Inc.
MoreEx-owner of cemeteries gets prison time
July 8, 2010
Associated PressRobert Nelms, ex-owner of cemeteries in four states, including Indiana, has been sentenced to between 32 months and 10 years
in prison for embezzling $4.2 million from a Grand Rapids cemetery.
MoreFormer loan officer charged with falsifying documents
July 6, 2010
Prosecutors say Robert Tolle falsified a construction progress inspection report while at Old National Bank. He faces a maximum
30-year prison sentence and $1 million fine.
MoreFBI scoops up Tim Durham's car collection
June 30, 2010
Greg AndrewsAn agreement with Durham's attorney paved the way for FBI agents to pick up 18 cars from Durham's residences in Indianapolis
and Los Angeles.
MoreDurham attorney blasts FBI after vehicle seizures
June 25, 2010
Greg AndrewsEmbattled financier Tim Durham's lawyer, Larry Mackey, said the FBI should have known a bankruptcy trustee had the titles.
An attorney for
the trustee said investigators were aware.
MoreShelbyville man sentenced for ripping off employer
June 17, 2010
John K. Branam was sentenced to 57 months in prison after pleading guilty to embezzling $1.6 million over four years from
King’s Title & Abstract Co.in Shelbyville.
MoreLocal funeral home operator in Michigan jail
May 10, 2010
Robert Nelms will spend at least a month in jail until the sale of Memory Gardens Management Corp. is complete. He is awaiting
sentencing in Michigan and faces up to three years in prison.
MoreFair Finance trustee sues Dan Laikin for $19M
April 13, 2010
Greg AndrewsThe suit against Laikin, a longtime friend of Fair Finance CEO Tim Durham, is the first major legal move to untangle the morass
of related-party loans that propelled the company into insolvency.
MorePath to Fair Finance funds full of detours, roadblocks
April 10, 2010
Greg AndrewsThe troubles at U.S. Rubber Reclaiming demonstrate the challenges a bankruptcy trustee faces in trying to recover money for
investors.
MoreFour charged with income tax fraud
April 7, 2010
A business owner and three people allegedly involved in a large mortgage fraud scheme face prison sentences for failing to
report income or file certain tax forms.
MoreFair Finance co-owner charged with domestic battery
March 22, 2010
Greg AndrewsThe embattled businessman was booked into the Hamilton County Jail following an incident Saturday morning at his Geist Reservoir
home.
MoreMysterious $14M Verizon payable looms over Durham firm
March 20, 2010
Greg AndrewsCLST Holdings founder Al Goldfield says the company hid a $14 million debt to Verizon Communications Inc. in the years after
he left.
MoreBankruptcy trustee for Fair Finance wades into morass of insider loans
February 27, 2010
Greg AndrewsBrian Bash will need to untangle a web of related-party transactions that have befuddled nearly everyone who has tried to
make sense of them.
MoreJudge halts dissolution of struggling Durham firm
February 26, 2010
Greg AndrewsA judge has blocked Tim Durham and other directors of Dallas-based CLST Holdings Inc. from dissolving the struggling company
at the close of business Friday. Its largest shareholder hopes to place dissident candidates on the board.
MoreJudge weighing request to unseal Fair Finance records
February 11, 2010
IBJ StaffA federal judge is weighing whether to unseal search-warrant documents related to the federal investigation of businessman
Tim Durham and Akron, Ohio-based Fair Finance Co. following a hearing Thursday in Youngstown, Ohio.
MoreFair Finance going along with appointment of receiver
February 11, 2010
Greg AndrewsAttorneys for the company and its parent firm denied any fraud occurred but said receivership nonetheless made sense.
MoreDurham-backed firm to halt trading, dissolve
February 10, 2010
Greg AndrewsDallas-based CLST Holdings Inc. has struggled, and its shares trade for a mere 9 cents apiece.
MoreEx-Indiana player Leary arrested in fraud case
February 5, 2010
Associated PressThe 39-year-old Leary was being held Friday in the Monroe County Jail in Bloomington on charges out of Allen County.
MoreFair Finance investors aim ire at U.S. attorney
January 30, 2010
Greg AndrewsOhio residents who put money into Tim Durham's company want the U.S. Attorney's Office to seize his and the company's assets.
MoreFair Finance investors fear money is disappearing
January 27, 2010
Greg AndrewsOhio residents who attended investor meeting say recovering funds hinges on locking down assets that remain.
MoreCourt affirms receiver for Michelle Schrenker's assets
January 19, 2010
Scott OlsonIndiana Court of Appeals agrees with lower court's decision to appoint receiver to oversee finances of ex-wife of convicted
money manager Marcus Schrenker.
MoreBank says Durham had no right to sell Duesenberg
January 18, 2010
Greg AndrewsA legal brouhaha over the recent auction of a Duesenberg automobile by Tim Durham has taken a new twist, with Durham's bank
charging the financier didn't have the right to sell the car in the first place.
MoreInvestors in failed Church Extension poised to recoup 70 percent
January 9, 2010
Greg AndrewsProfessionals liquidating the not-for-profit have so far recovered nearly 68 percent of the $82 million owed
investors.
MoreFormer cemetery owner avoids prison time
January 8, 2010
Scott OlsonRobert E. Nelms received an eight-year sentence that will be served through a community corrections program after pleading
guilty to theft and securities fraud.
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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.