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.
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.
Federal prosecutors have filed fraud charges against an investor who they say misspent nearly $400,000 that leaders of an Indianapolis church gave him as it tried to raise more money to rebuild from a fire.
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.
The trustee in the Fair Finance bankruptcy case and his law firm have run up legal bills approaching $9 million, nearly double the recoveries they've achieved to date for investors victimized by convicted fraudster Tim Durham.
David Swanson had argued that his lawyers were derelict in not seeking a mistrial stemming from his 2002 conviction on wire fraud, money laundering and tax evasion charges. A federal appeals court on Wednesday affirmed his 12-year sentence.
Former Obsidian Enterprises Inc. President Terry Whitesell will pay the amount as part of a settlement agreement. A bankruptcy trustee representing investors of Fair Finance Co., owned by convicted financier Tim Durham, had sought more than $225,000 from Whitesell.
Attorneys for Don Marsh are trying to ensure that his refusal to answer questions during a 2010 deposition doesn’t come back to haunt him when Marsh Supermarkets' lawsuit against him goes to trial in October.
Lawyer William F. Conour had been held in a Decatur County Jail since July 25 on a contempt of court charge until a judge on Monday ordered his release. Conour is accused of defrauding clients of $2.5 million.
High-profile Indianapolis attorney William F. Conour, 65, who is accused of misappropriating $2.5 million in client funds, has relinquished his law license to the Indiana bar.
A federal judge has ordered an Indiana financier and a business partner jailed until they are sentenced for swindling investors out of $200 million.
A federal judge will hear evidence on whether Tim Durham, Jim Cochran and Rick Snow should be kept in jail until they are sentenced.
A New York firm is contacting Fair Finance Co. investors seeking to purchase their bankruptcy claims—a sign of growing optimism that investors in the defunct business will secure a sizable recovery.
An attorney for convicted fraud mastermind Tim Durham vowed Thursday to appeal the case to the U.S. Supreme Court if necessary to prove his client did nothing wrong.
The jury began deliberations Wednesday morning in the federal fraud trial of financier Tim Durham and two co-defendants.
The prosecution described Tim Durham as "the mastermind" of a Ponzi scheme, while partner Jim Cochran acted as the front man who lied "to people's faces," and Chief Financial Officer Rick Snow served as the "backroom numbers guy."
Attorneys for Tim Durham and his co-defendants are expected to start their defense Tuesday morning and wrap it up in the afternoon. The jury is expected to begin deliberations Wednesday.
A series of government-recorded phone calls have provided some of the most riveting courtroom moments during the fraud trial of Tim Durham and two co-defendants.
Rick Snow, Fair Finance Co.'s former chief financial officer, isn't accused of collecting insider loans like co-defendants Tim Durham and Jim Cochran. But he's facing the same felony charges.
The men who presided over Ohio-based Fair Finance were at their wits end by late 2009. In government-recorded phone calls and intercepted e-mails introduced as evidence in U.S. District Court this week, they come across as exhausted, angry and determined.
