Trustee settles for $3.5M with former Fair Finance owner
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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Investors let down guard, opening door to Durham fraud
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?
Successful Durham appeal unlikely, outside lawyers say
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.
Durham gets 50 years for fraud scheme
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.
Fraud victims detail losses before Durham’s sentencing
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.
WOJTOWICZ: Is small-business ownership for you?
The horror stories are sobering: Dun & Bradstreet reported earlier this year that businesses with fewer than 20 employees have only a 37 percent chance of surviving four years and just 9 percent will be around 10 years.
Judge sentences Durham to 50 years
Tim Durham will likely spend the rest of his life behind bars after a federal judge on Friday sentenced the disgraced playboy and businessman to a 50-year prison term for defrauding 5,000 Ohio investors of more than $250 million. U.S. Judge Jane Magnus-Stinson said three words decribe both Durham, 50, and the crimes he committed: […]
Wabash Valley Power aggressively shifting to greener alternatives
The Wabash Valley Power Association has been reducing its dependence on energy produced from coal—from 95 percent five years ago to 54 percent today. The utility is leaning more on natural gas and even renewable-energy sources like methane from landfills and animal waste.
Live tweets from Durham sentencing
IBJ provided ongoing updates from the courthouse where Ponzi schemer Tim Durham and two accomplices were sentenced Friday afternoon.
Durham fate rests in judge’s hands
Convicted Ponzi schemer Tim Durham and two accomplices will find out Friday whether they will spend the rest of their lives in prison.
Local designer’s bankruptcy tied to Fair Finance
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.
Prosecutors: Durham, accomplices deserve life sentences
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.
Durham asks court for five-year sentence
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.
Pliant Ohio regulators helped clear path for Durham’s fraud
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.
2012 CFO OF THE YEAR: Jack A. Gochenaur
Jack A. Gochenaur, chief financial officer and treasurer of Manchester University, is a finalist in the not-for-profit category.
2012 CFO OF THE YEAR: Steve Collins
Steve Collins, chief financial officer of ExactTarget, is a finalist in the public companies category.
ALTOM: It’s easy to fill gaps in business knowledge online
The online world is blossoming with education, both good and questionable. It was one of the first uses for the Web. The Web brought technical people together to share information, and often it was in the form of a tutorial to answer the question, “How do I get this to do that?”
MUTZ: More campaign disclosure necessary
Who made a campaign contribution and for how much should be public information before the election. Two court rulings since 2010 and creation of several finance vehicles have complicated and confused the situation.
Much of trustee’s suit against Fair Finance lenders dismissed
Fair Finance Co.'s investors have been dealt a blow by a federal judge who dismissed a bankrutpcy trustee's lawsuit against one of the company’s deep-pocketed lenders.