Fraud suspect Tim Durham was released from a halfway house on Monday, after a more thorough accounting of his finances was presented to a federal magistrate. Durham had been at the Indianapolis facility since Wednesday.
Former Indiana businessman Timothy Durham, 48, who is accused in a $200 million fraud scheme, is scheduled to appear in federal court in Indianapolis on Wednesday at 2:30 p.m.
Fair Finance’s bankruptcy trustee says attorney Stephen Plopper and his wife are paying the full amount due under a loan that matured in 2006.
Still under wraps is the the FBI affidavit in support of the Fair Finance search warrant. Prosecutors contend releasing that "would greatly prejudice the criminal case."
Unlike the other defendants, Fair Finance executive Rick Snow isn’t accused of tapping the company for a bevy of loans, then failing to repay the money.
Defense attorneys representing indicted businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. could have a hard time convincing a jury to find them innocent. Federal prosecutors won 94.1 percent of their cases in 2009.
The receiver appointed in the case is distributing the last of $2.6 million in assets he recovered from the $29 million investors lost in the Ponzi scheme.
Investors eager to capture return are frequently attracted to investments that offer high yields. But before leaping into them, they should remember the useful idiom: “There is no free lunch.”
Emails filed as exhibits in the Chapter 7 bankruptcy case of Fair Finance Co. this month strongly suggest company insiders knew years before Fair collapsed that it was in dire straits.
Emerging market stocks have underperformed U.S.-based stocks for almost 18 months now, and the signs don’t look that good going forward.
A 1929 Duesenberg once driven by Elvis Presley garnered the largest price—$1.237 million.
Fair Finance Co.’s bankruptcy trustee scheduled the Friday auction to raise money for creditors of the defunct company, including more than 5,000 Ohio residents who hold more than $200 million in unsecured investment certificates.
The Peoples State Bank of Ellettsville says it was duped three years ago into investing more than $13 million into auction-rate securities just before those markets froze up. Now it’s suing its broker, Stifel Nicolaus & Co., to get the money back.
Sydney "Jack" Williams, founder of Williams Realty Group, recruited dozens of investors, many with Indiana ties, to invest in a Florida business that turned out to be a giant fraud.
A judge on Friday approved a plan under which investors who lost millions in Marcus Schrenker’s financial schemes will get back seven cents on the dollar.
The Federal Home Loan Bank of Indianapolis is suing some of the nation’s largest financial institutions to recover losses on a $3 billion portfolio of mortgage-backed securities.
Looking at the final years of the Great Depression tells me that next year might not be so kind to investors.
At 78, L. Gene Tanner is one of the longest-serving investment advisers working in Indianapolis. Tanner spoke with IBJ's Norm Heikens about why he shifted to City Securities, his brush with convicted Ponzi scheme operator Bernard Madoff, and how his investment strategy has changed.
Experts are split over whether runup in precious metal is a classic bubble.
A report by the receiver appointed to document Marcus Schrenker’s assets says he just doesn’t have enough money to repay investors more than that.
