Robert Nelms will spend at least a month in jail until the sale of Memory Gardens Management Corp. is complete. He is awaiting
sentencing in Michigan and faces up to three years in prison.
The suit against Laikin, a longtime friend of Fair Finance CEO Tim Durham, is the first major legal move to untangle the morass
of related-party loans that propelled the company into insolvency.
The troubles at U.S. Rubber Reclaiming demonstrate the challenges a bankruptcy trustee faces in trying to recover money for
investors.
A business owner and three people allegedly involved in a large mortgage fraud scheme face prison sentences for failing to
report income or file certain tax forms.
The embattled businessman was booked into the Hamilton County Jail following an incident Saturday morning at his Geist Reservoir
home.
CLST Holdings founder Al Goldfield says the company hid a $14 million debt to Verizon Communications Inc. in the years after
he left.
A judge has blocked Tim Durham and other directors of Dallas-based CLST Holdings Inc. from dissolving the struggling company
at the close of business Friday. Its largest shareholder hopes to place dissident candidates on the board.
Brian Bash will need to untangle a web of related-party transactions that have befuddled nearly everyone who has tried to make sense of them.
A federal judge is weighing whether to unseal search-warrant documents related to the federal investigation of businessman
Tim Durham and Akron, Ohio-based Fair Finance Co. following a hearing Thursday in Youngstown, Ohio.
Attorneys for the company and its parent firm denied any fraud occurred but said receivership nonetheless made sense.
Dallas-based CLST Holdings Inc. has struggled, and its shares trade for a mere 9 cents apiece.
A judge has entered a preliminary not guilty plea for a former Indiana University basketball player charged in connection
with an ex-business partner’s multimillion-dollar fraud scheme.
The 39-year-old Leary was being held Friday in the Monroe County Jail in Bloomington on charges out of Allen County.
Federal prosecutors say the men were part of a scheme in which straw deals were set up to obtain inflated mortgages on more
than 100 Indianapolis houses.
Ohio residents who put money into Tim Durham’s company want the U.S. Attorney’s Office to seize his and the company’s assets.
A defense attorney and prosecutors have agreed to delay the trial on securities fraud charges of a former Indiana money manager
who tried to fake his death by jumping from a small plane before it crashed in Florida.
Ohio residents who attended investor meeting say recovering funds hinges on locking down assets that remain.
Indiana Court of Appeals agrees with lower court’s decision to appoint receiver to oversee finances of ex-wife of convicted
money manager Marcus Schrenker.
A legal brouhaha over the recent auction of a Duesenberg automobile by Tim Durham has taken a new twist, with Durham’s bank
charging the financier didn’t have the right to sell the car in the first place.
Robert E. Nelms received an eight-year sentence that will be served through a community corrections program after pleading
guilty to theft and securities fraud.
