IBJNews

Latest Fair suits target Kato Kaelin, playmate, many others

Back to TopCommentsE-mailPrintBookmark and Share

Fair Finance Co.’s bankruptcy trustee has filed a new barrage of lawsuits against a diverse range of targets, including the rapper Ludacris, former Playboy playmate Jamie Ferrell and former O.J. Simpson confidant Kato Kaelin.

Trustee Brian Bash since early 2010 has been trying to recover funds for investors of Ohio-based Fair, which was led by Indianapolis financier Tim Durham until his financial empire collapsed in late 2009.

The latest suits target Durham friends and business associates, as well as companies and charities, that records list as receiving loans or transfers from the indicted executive or his businesses in recent years. Bash contends the payments were fraudulent transfers that must be repaid because they were made when Durham and his companies were insolvent.

By the end of Friday, Bash had filed 39 lawsuits in just a two-day span. Other notable defendants include former IndyCar team Playa del Racing Inc., Benjamin Harrison Presidential Site Inc. and Henri Najem, who owns the Bella Vita restaurants downtown and on Geist Reservoir. His brother Anthony Najem, who co-founded Fishers-based construction firm Meyer Najem Corp., also is a defendant.

In addition, the trustee sued Michael Durham, Durham’s stepson from his marriage to ex-wife Joan SerVaas. Bash accuses Michael Durham of accepting $49,712 in transfers from Tim Durham.

Michael Durham is the second of Durham's family members to be targeted by Bash. Late last month Bash sued Durham's mother, Mitza Durham of Seymour, accusing her of receiving 58 checks or wire transfers totaling $831,000 from Durham from February 2006 through November 2009.

Another defendant in the new suits is Ricky D. Snow, former chief financial officer of Fair Finance, who is accused of making improper transfers that depleted Fair's assets.

Durham and two business partners, James Cochran and Snow, were arrested in March after being indicted on 12 felony counts, including conspiracy to commit wire and securities fraud. They deny wrongdoing.

The new suits are part of Bash's contininuing quest to recover some of the more than $200 million that Fair owes more than 5,000 Ohio investors who purchased unsecured notes from the company.

Bash accuses the Najems of accepting nearly $2 million in transfers from Durham. Henri Najem is a former partner with Durham in several restaurants.

Former playmate Ferrell is accused of accepting $174,415 from Durham. The Benjamin Harrison Presidential Site Inc., which oversees the former president's home, received $50,000, court papers allege. The suits say Kaelin received $23,700 and that the Ludacris Foundation Inc., a not-for-profit focused on improving the lives of disadvantaged young people, received $30,000.

Bash alleges Durham looted Fair after buying it in 2002, stripping the business of the financial wherewithal to repay the investors.

For all of IBJ's Durham coverage, click here.

 

ADVERTISEMENT

  • Follow the money but collect the taxes too!
    T. Durham and his family have spent tons of money. If he gave huge amounts of money to mama, sisters, sons, Xes, whores, or whoever they have to pay taxes on these gifts. It doesn't matter if the money was given for medical expenses or to pay for an expensive vacation home. It is all income to the fed. We pay taxes. Durham's family owes taxes! Not just on what they settle on paying back but what they were given and spent. It pisses me off to know these people will get off from paying the Fair investors less than they were given or took. I think they should spend time in jail for every penny they don't return. Not just Tim Tim!
  • Great News
    The Akron Beacon Journal said that they had filed lawsuits for over $1 Billion dollars. Good follow the money!

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

ADVERTISEMENT