Dr. Dale Guyer—who was thrust into the spotlight this week after a news report suggested his Indianapolis clinic provided HGH to Peyton Manning—borrowed heavily from convicted Ponzi schemer Tim Durham, starting in 2003.
A group of elite Indianapolis investors who cashed out before Tim Durham’s financial empire collapsed have reached a settlement with a bankruptcy trustee requiring them to give most of their money back.
Convicted Ponzi schemer Tim Durham and two accomplices will find out Friday whether they will spend the rest of their lives in prison.
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.
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.
Lawyers overseeing Fair Finance's liquidation charge that, every step of the way, businesspeople who crossed Tim Durham’s path and witnessed questionable behavior looked the other way—because it was highly profitable for them to do so.
The Fair Finance trustee alleged that, in addition to being huge campaign contributors to former Marion County Prosecutor Carl Brizzi, Tim Durham and his companies helped cover Brizzi’s personal expenses.
Fair Finance Co.’s bankruptcy trustee sued Shelbyville’s SCB Bank this week, charging it refuses to turn over hundreds of thousands of dollars it raised by auctioning off one of Tim Durham’s most valuable automobiles, a 1929 Duesenberg.
A federal judge denied a request from indicted financier Tim Durham to relax the rules of his home detention. The judge also appointed a public defender for his business partner, James F. Cochran.
The Fair Finance bankruptcy trustee has subpoenaed Brightpoint Inc. CEO Robert J. Laikin as it tries to recover more than $19 million Laikin's brother borrowed from the Ohio company.
Fair Finance Co.’s bankruptcy trustee this week sued National Lampoon Inc. seeking to recover millions of dollars that indicted financier Tim Durham provided the ailing Los Angeles-based comedy business over the past decade.
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.
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.
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.
Timothy S. Durham (pictured at far left), James F. Cochran and Rick D. Snow were all arrested on Wednesday following a grand jury indictment.
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.
For the past decade, Indianapolis-based professional speaker Scott McKain has used his experience at Obsidian Enterprise Inc. as the centerpiece of his marketing pitch, but Obsidian is not the success his bio advertises it to be.
Fair Finance Co.’s bankruptcy trustee alleges Tim Durham perpetrated a fraud of "shocking proportions,” draining huge sums from the Akron, Ohio, firm for years to mask that his business empire had collapsed.
First Merchants Bank is seeking nearly $1 million from Tim Durham and his companies through a recently filed loan-default
lawsuit.
