Tim Durham

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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Local designer’s bankruptcy tied to Fair Finance

November 28, 2012
Scott Olson
SC Design Inc. lists debt of $1.5 million. Most of it is owed to Fair Finance, formerly co-owned by convicted fraudster Tim Durham, through a claim filed by a trustee seeking to recover investor funds.
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Prosecutors: Durham, accomplices deserve life sentences

November 27, 2012
Scott Olson
Saying their crimes were "as serious as any financial fraud crime ever committed," federal prosecutors re-emphasized Monday their recommendation that Ponzi schemer Tim Durham and his two accomplices deserve to spend the rest of their lives in prison.
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Durham asks court for five-year sentence

November 26, 2012
Scott Olson
Convicted Ponzi schemer Tim Durham is requesting a much shorter prison stay than the life sentence federal prosecutors want him to serve. The convicted Ponzi schemer and two associates are set to be sentenced Friday.
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Pliant Ohio regulators helped clear path for Durham's fraudRestricted Content

November 24, 2012
Greg Andrews
The Ohio Division of Securities allowed Fair Finance to register investment certificates even after the company stopped providing audited financials and Tim Durham drained more than $100 million from the firm through insider loans.
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Indianapolis accounting firm settles with Fair Finance trustee

November 1, 2012
Kathleen McLaughlin
Somerset CPAs PC will pay $500,000 to settle litigation brought by the bankruptcy trustee of Fair Finance Co., the Ohio-based firm that convicted financier Tim Durham used to conduct a major Ponzi scheme.
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Durham lawyer balks at proposed 225-year sentence

November 1, 2012
Greg Andrews
The 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.
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Legal fees nearing $9M in Fair Finance bankruptcy

October 17, 2012
Cory Schouten
The 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.
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Sentencing date set for convicted financier Durham

September 26, 2012
Associated Press
A federal judge has set a November sentencing for Indiana financier Tim Durham and two business associates convicted of swindling thousands of investors out of more than $200 million.
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Judge rejects Fair Finance attorneys' fee request

July 26, 2012
Scott Olson
The compensation plan submitted by Cleveland-based Baker & Hostetler LLP could have netted the law firm $32.5 million if it recovered the entire $200 million or more owed to investors of Fair Finance, which was owned by convicted Indianapolis financier Tim Durham.
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Judge orders Durham, Cochran jailed until sentencing

June 25, 2012
Cory Schouten
Convicted Ponzi schemers Tim Durham and James Cochran will be held in a federal prison until sentencing, while accomplice Rick Snow will be confined under home detention, under an order issued Monday afternoon by U.S. District Judge Jane E. Magnus-Stinson.
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Outlook improves for Fair Finance investors

June 23, 2012
Greg Andrews
A 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.
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Durham attorney vows to appeal guilty verdict

June 21, 2012
Cory Schouten
An 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.
More
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  1. Doug Henning!

  2. These guy were thugs — they grew up in freaking Haughville! Smh, sigh. If the mayor needs/wants "quality" Black Hoosiers who are NOT corrupt, give me a call — I know plenty. Land bank info here - http://www.kubepharm.com/indylandbank/IndyLandBank.html

  3. Magician and illusionist!

  4. The basic idea of nice apartments with parking and retail is a good one, but this design seems overwhelmingly big/tall for Broad Ripple. The size could be disguised a bit with lots of big trees/landscaping, but the complex is too massive to blend in easily. That section of canal between College and Westfield will also need to be upgraded on both sides. Nice apartments facing onto a nice promenade with shade trees/plantings could bring together the canal towpath/Monon recreation, the outdoor seating at existing restaurants, and this project into something that upgrades the whole area. A plan for the whole stretch makes more sense than facing nice new housing onto what looks like a ditch. Is there a plan? Does the public have input? Who pays? The apartment idea seems to be reasonable, but Whole Foods is not a good idea for appropriate retail. Besides the store being physically too big, there are already Fresh Market at 54xCollege and Whole Foods in Nora for fancy groceries. Good Earth and Kroger are within walking distance of the Shell site. There are at least 7 grocery stores within a safe bike ride. Whole Foods would add nothing but traffic congestion. This design is on the right track, but there needs to be more work done to ensure that it blends in with and enhances the existing community. A project that large will set a tone for that whole part of town. It could be a real asset, but only if done right.

  5. I did not move to Zionsville to live in Carmel. This and the subsequent developments to follow will ensure a vanilla uniformity of strip malls and apartment buildings as we seek to bring our town down to the least common denominator. We were warned before recent elections that pro-development council members would make sure their friends (landowners and developers) would be able to make their millions off of the exploitation of Zionsville. Why in God's name would we sell out the best preserved small town in the State of Indiana?

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