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.
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.
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.
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: […]
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.
IBJ provided ongoing updates from the courthouse where Ponzi schemer Tim Durham and two accomplices were sentenced Friday afternoon.
Convicted Ponzi schemer Tim Durham and two accomplices will find out Friday whether they will spend the rest of their lives in prison.
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.
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.
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.
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.
Jack A. Gochenaur, chief financial officer and treasurer of Manchester University, is a finalist in the not-for-profit category.
Steve Collins, chief financial officer of ExactTarget, is a finalist in the public companies category.
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?”
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.
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.
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.
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.
