Feds go after Fair Finance CFO, despite murkier motive
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.
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Durham’s ex-wife explains bond for indicted financier
Joan SerVaas issued a written statement saying she and her father signed off on a $1 million bond because they’re confident Tim Durham will continue to cooperate with federal authorities and abide by the conditions of his release.
Formstack stuck in suit by Oklahoma tech firm
Online form builder says a lawsuit from Tulsa-based MacroSolve Inc. against it and three other tech firms is without merit.
Indicted financier Durham ordered released on $1M bond
A federal magistrate in California has ordered a former Indiana businessman accused in a $200 million fraud scheme released on $1 million bond.
EEOC: Local bar fired worker over pregnancy
The federal agency is suing the owner of the Wild Beaver Saloon in Broad Ripple for allegedly firing an employee because of her pregnancy, which violates the Civil Rights Act of 1964.
Indiana senator returning cash from troubled financier
An Indiana state senator is returning campaign contributions from Timothy Durham, a former Indianapolis businessman charged with running a Ponzi scheme that defrauded investors of more than $200 million.
Ex-Countrymark CEO clamors for conviction reversal
David Swanson, who was sentenced to 15 years in prison for skimming $2.7 million from CountryMark in 2003, was in court in Indianapolis last week, trying to get his sentence reduced or conviction overturned.
Westfield businessman jailed for tax evasion
U.S. Attorney Joseph Hogsett said Joseph Hinshaw, 57, under-reported his income from 2003 to 2007 to avoid taxes and to obtain federal and state student loans.
Federal judge delays Durham hearing
A federal magistrate in California has delayed until Monday a detention hearing for Tim Durham, a former Indiana businessman accused of running an elaborate Ponzi scheme that defrauded investors of more than $200 million.
Convictions likely in federal Fair Finance case
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.
Fair Finance investors likely to recover little money
Authorities say Fair Finance, led by indicted businessman Tim Durham, owes 5,200 investors $230 million. But they’re likely to recoup just a “teeny-tiny” fraction.
Indianapolis couple offers seniors a senior housing alternative
Unusual home on south side has a dozen bedrooms for folks who need to give up their own homes.
Officials: Fair Finance largest fraud case in state’s history
Timothy S. Durham (pictured at far left), James F. Cochran and Rick D. Snow were all arrested on Wednesday following a grand jury indictment.
BREAKING: Durham, two other executives indicted for fraud
Beleaguered local businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. have been indicted on felony charges of wire fraud, securities fraud and conspiracy to commit wire fraud and securities fraud. The Securities and Exchange Commission also filed a complaint against the men in federal court.
Decade-old Heartland fraud case nearing end
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.
Purdue case highlights costs of defending intellectual property
A complicated legal case about trade secrets points up a down side to the success Indiana’s research universities have had turning their research into revenue: Large legal bills can eat much of the money.
Product delays thwart $40M Roche purchase
Delays getting new diabetes meters into the U.S. market appear to have tripped up Roche Diagnostics Corp. on its way to acquiring a key software vendor.
Antitrust lawsuit threatens ‘essence’ of NCAA
A former Rice University football player argues that one-year limits on athletic scholarships is a “blatant price-fixing agreement” between the NCAA and its member schools.
Regulatory overload is community banks’ next big hurdle
Banks across Indiana are preparing for a deluge of new regulations that will cut into their bottom lines, make their businesses more complex and, in some cases, force them to consolidate.
Local business accused of selling illegal immigration services
The Indiana Attorney General’s Office filed suit Wednesday against The Mexican Civic Association of Indiana Inc. for allegedly offering immigration advice without a license to practice law.