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. Again, Maria.... how much are YOU contributing? The man doesn't HAVE to give a red cent! What don't you get about that? And, I know this might actually require some actual "facts", but can you please point me to the parking garage that the city gave to him?

  2. Another internet tuff guy I see. And what would the basis of taking the person to jail? If they were drunk, yea. But if not, there would be no jailable offense. All these gestapo, Nazi, jackboots are running SCARED. When the SHTF in this country who's side are you going to be on? The citzens, or the establishment? Better make up your mind quick because it's not far off. I would rather be trying to make friends than enemies. But no worries my "friend", God will take care of you and your likes in good time. It tells us that in the bible. If you stand, support and help carry out the plans of evil rulers, you will NOT be spared the wrath of God. That simple. All you can do is repent now and ask God to forgive you.

  3. Yes, Ersal, thank you for donating a whole $75,000, while the city gives you a parking garage for free and is going to pay for a multi million dollar stadium for you. I'd be donating money too if I was on welfare.

  4. I live and work in Broad Ripple and agree 100% that the traffic is not a significant problem. It can be slow at some times, but hey...this is an urban area. As for the development itself...HOORAY. Office and retail development brings people during the day, something that our community needs much more of. Thank goodness people are finally waking up to take advantage of the serene White River views. The BRVA land us committee endorsed the project because they know how these kind of projects help offset the cries of "too many bars". Pray that this development, and the proposed major investment by Browning, move forward. And remember Good Earth, these will mean hundreds of daytime people - potential shoppers for your store.

  5. Under current, previous existing law, this new law would be unconstitutional. Not that supposedly having to have a driver's license to drive isn't in the first place.

ADVERTISEMENT