Judge rejects Durham’s bid to dismiss SEC civil suit
The Indianapolis financier convicted of operating a Ponzi scheme failed to persuade a federal judge to dismiss the government’s civil action against him and other convicted accomplices.
The Indianapolis financier convicted of operating a Ponzi scheme failed to persuade a federal judge to dismiss the government’s civil action against him and other convicted accomplices.
Timothy Durham was convicted in 2012 for his role in a Ponzi scheme that defraud investors in Fair Finance Co. of more than $200 million. He is currently serving a 50-year federal prison sentence.
A federal appeals court has rejected a former Indianapolis businessman's bid to shorten his 50-year sentence for defrauding investors of more than $200 million.
Dr. Dale Guyer—who was thrust into the spotlight this week after a news report suggested his Indianapolis clinic provided HGH to Peyton Manning—borrowed heavily from convicted Ponzi schemer Tim Durham, starting in 2003.
Convicted Ponzi scheme leader Tim Durham appeared in federal court in Indianapolis for a resentencing hearing Friday afternoon following the September dismissal of two fraud counts by the U.S. Court of Appeals.
When Judge Jane Magnus-Stinson sentenced Durham to 50 years in 2012, she said there was no point to handing down a sentence that was a multiple of his likely life span.
Investors will receive about $3.2 million of the $9.7 million they lost in a fraud perpetrated by Keenan Hauke, a former Fishers hedge fund manager. He’s in prison after admitting to hiding massive losses by creating fake account statements.
The appellate court reduced Tim Durham's felony convictions from 12 to 10 and ordered him resentenced. It said the government, in an "oversight," had failed to submit key evidence related to the two dismissed counts.
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.
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.
Tim Durham’s 10,700-square-foot Geist home has languished on the market for years with an asking price of $5.5 million.
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.
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.
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.”
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.
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.
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.
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.
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.
Tim Durham, the Indianapolis businessman who used to dream of becoming the world’s richest man, ended 2012 broke and facing a 50-year prison sentence for orchestrating a $250 million Ponzi scheme.