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."
Defense attorneys in the federal fraud trial of Fair Finance executives Tim Durham, Jim Cochran and Rick Snow rested their cases Tuesday morning after calling just one witness and introducing a handful of exhibits.
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.
The U.S. Supreme Court did not hand down a ruling in the health care reform case Monday morning. The nine justices meet again Thursday, but most observers expect the decision to come June 25 or June 28.
In the weeks before an FBI raid shut down Fair Finance Co., top company executives led by Indianapolis financier Tim Durham devised a last-ditch maneuver they hoped would persuade Ohio regulators to allow them to keep selling investment certificates.
Indianapolis-based WellPoint Inc. said it is lowering its profit forecast for the year by 3 percent after reaching a $90 million settlement in a class-action lawsuit.
The federal lawsuit was set to go to trial June 18 in Indianapolis. The claims arise from Anthem’s 2001 conversion from a mutual company, owned by its insured policyholders, to a public company.
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.
The accounting firm Tim Durham hired to review the Ohio company’s 2003 finances refused to complete an audit because of concerns about the accuracy of its numbers and the appropriateness of its practices. The FBI raided Fair Finance in November 2009.
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 filing of merger lawsuits is so predictable that many acquiring companies factor in class-action legal costs as a form of “transaction tax” to get their deals done.
The Indian-born doctor is seeking past and future pay, in addition to other damages, for enduring what she considers harassment and discrimination while a resident at the Indianapolis hospital.
Federal prosecutors in the Tim Durham fraud trial on Wednesday sought to introduce into evidence an IBJ investigative report from October 2009, but a judge agreed with a defense attorney and denied the request.
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.
The American Civil Liberties Union is representing the Indiana Youth Group in its appeal of the state's March decision, arguing the BMV selectively enforced the policy that led to the ban.
Donald Russell, a retired deputy sheriff, is among the more than 5,000 clients of Fair Finance who lost big investments with the Ohio firm. After testifying on Tuesday during the fraud trial for Fair owner Tim Durham, he shared his story with IBJ.
Tim Durham and his co-defendants in the fraud case involving Fair Finance sit on the same side of the courtroom, but that doesn't mean their interests are always aligned.
The former controller at Fair Finance is testifying at the fraud trial of Tim Durham as a star witness for the federal government in exchange for immunity from prosecution.
The man whose father founded Ohio-based Fair Finance during the Great Depression led off the government's case on Monday against the Indianapolis men accused of looting the company and leaving its investors with $200 million in losses.
A federal judge and a handful of attorneys are selecting jurors who could determine the fate of indicted financier Tim Durham and his co-defendants. The jury-selection process, which began Friday morning, launched what’s expected to be a three-week trial over alleged wire and securities fraud.
