Tim Durham

Durham victims wait and wait, as quest for cash continues

July 5, 2014
Greg Andrews
The bankruptcy trustee who has been trying to scrape together money for victims of Indianapolis financier Tim Durham’s Ponzi scheme just struck two lawsuit settlements that underscore the daunting obstacles he faces.
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Durham ordered to pay $1 million in Duesenberg sale

March 28, 2014
Associated Press
A former Indianapolis financier in federal prison for a $200 million investment fraud has been ordered to pay $1 million over the disputed auction of a 1930 Duesenberg automobile.
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Durham's Geist mansion goes back to the bank at auction

March 6, 2014
Lender JPMorgan Chase & Co. took possession of convicted Ponzi schemer Tim Durham’s Geist mansion Thursday after the property failed to draw an offer higher than the bank’s base bid of $2.24 million.
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Symbol of Durham’s opulence heading for a sheriff’s saleRestricted Content

February 15, 2014
Greg Andrews
Tim Durham's 10,700-square-foot Geist home has languished on the market for years with an asking price of $5.5 million.
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Prosecutors concede no ground in Tim Durham’s appeal

December 7, 2013
Greg Andrews
In a new brief, the government insists it pursued wiretaps in late 2009 only after investigating the business using less-invasive techniques for 7-1/2 months.
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Still nothing for investors, as Fair Finance legal fees balloon

November 23, 2013
Greg Andrews
The Cleveland law firm representing the bankruptcy Trustee Brian Bash is seeking approval for more than $11 million in fees.
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Local businessman agrees to settle trustee claims

November 13, 2013
Scott Olson
Stephen Blaising said in a recent court filing that he will pay $125,000 to satisfy a lawsuit brought by the bankruptcy trustee representing investors in an Ohio company led by Tim Durham.
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Durham family members agree to settle trustee claims

November 8, 2013
Attorneys for the Fair Finance trustee said Tim Durham's ex-wife, Joan SerVaas, has agreed to pay $100,000 and Bernard Durham, his adopted son, $10,000 to settle a lawsuit charging they accepted nearly $300,000 from the disgraced financier.
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Fair bankruptcy judge issues $33M verdict against Dan Laikin

October 25, 2013
Greg Andrews
The case stems from a line of credit the Indianapolis businessman received from Tim Durham's Fair Finance Co. Attorneys for the failed company said Laikin amassed tens of millions of dollars in debt he never repaid.
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Durham backers who exited early now taking financial hitRestricted Content

September 21, 2013
Greg Andrews
A group of elite Indianapolis investors who cashed out before Tim Durham's financial empire collapsed have reached a settlement with a bankruptcy trustee requiring them to give most of their money back.
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Durham's appeal hangs on tossing damaging wiretapsRestricted Content

September 14, 2013
Greg Andrews
Attorneys for Tim Durham and his co-defendants cast their clients’ convictions on a total of 25 felony counts as the result of a string of legal missteps, including bungled jury instructions, and giving investigators the right to conduct wiretaps without first demonstrating that “ordinary investigative techniques failed or were unlikely to succeed.”
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Fair Finance trustee to continue pursuit into 2014

June 21, 2013
 IBJ Staff
The attorney charged with recovering some $200 million for the 5,300 investors bilked by Tim Durham’s Fair Finance Co. plans to continue filing lawsuits for reparations into next year.
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Fair Finance investors still empty-handed as trustee plows on

April 27, 2013
Greg Andrews
Many of the defendants pursued by Brian Bash and his team have few, if any, assets. And those that do have the wherewithal to fight litigation for years.
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Lampoon: Durham used $1M from company to pay attorney

March 4, 2013
J.K. Wall
Film company once headed by Indianapolis financier Tim Durham says he transferred $1 million to his Indianapolis lawyer, John Tompkins, while fighting federal securities fraud charges.
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High-priced Chicago firm handling Durham’s appeal pro bono

February 20, 2013
Scott Olson
A lawyer from one of the nation's largest law firms is handling the convicted financier's federal appeal free of charge, court documents show.
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Indiana tries to close loophole that helped Durham commit fraud in OhioRestricted Content

February 16, 2013
The legislature is considering a bill that would require intrastate securities offerings to file audited financials, a safeguard that caused trouble for Fair Finance investors.
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Lampoon paid for Durham’s defense, trustee alleges

January 23, 2013
Scott Olson
Fair Finance bankruptcy trustee Brian Bash, charged with recovering funds for Fair investors, alleges in a court filing that National Lampoon funded convicted Ponzi schemer Tim Durham's defense. Durham is a former CEO of the film company.
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Durham can appeal fraud sentence as indigent, judge rules

January 6, 2013
Associated Press
A federal judge says former Indiana financier Tim Durham doesn't have to pay to appeal his conviction for swindling investors out of more than $200 million.
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Investors let down guard, opening door to Durham fraudRestricted Content

December 8, 2012
Greg Andrews
Shouldn’t the 5,100 Ohio investors who lost more than $200 million when Fair collapsed have seen Fair’s lofty interest rates as a red flag?
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Trustee settles for $3.5M with former Fair Finance owner

December 7, 2012
Scott Olson
Donald R. Fair, the former owner of Fair Finance Co. who sold the business to fraudsters Tim Durham and James Cochran, agreed to the settlement Thursday.
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Successful Durham appeal unlikely, outside lawyers say

December 3, 2012
Scott Olson
Local criminal defense lawyers who tracked the trial of Tim Durham and his accomplices say chances are slim that they would prevail on appeal. One said Durham would have a better chance of winning the lottery.
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Durham gets 50 years for fraud scheme

November 30, 2012
Greg Andrews, Scott Olson, Cory Schouten
Former Indianapolis businessman Tim Durham was sentenced to 50 years in prison for running a Ponzi scheme that led to the collapse of Fair Finance, costing thousands of investors $250 million. Accomplices Jim Cochran and Rick Snow received 25 years and 10 years, respectively.
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Live tweets from Durham sentencing

November 30, 2012
Cory Schouten
IBJ provided ongoing updates from the courthouse where Ponzi schemer Tim Durham and two accomplices were sentenced Friday afternoon.
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Fraud victims detail losses before Durham's sentencing

November 30, 2012
Scott Olson
A 74-year-old former nun who cares for young children to earn a living after being swindled out of her life savings and a woman whose father lost $170,000 in proceeds from the sale of his farm testified against Tim Durham and his two fraud accomplices Friday morning.
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Durham fate rests in judge's hands

November 29, 2012
Cory Schouten
Convicted Ponzi schemer Tim Durham and two accomplices will find out Friday whether they will spend the rest of their lives in prison.
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