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.
A receiver will take control of assets held by Samex Capital CEO Keenan R. Hauke, a prominent Fishers money manager accused by state officials of violating securities laws.
A Sheridan businessman has reached a settlement with the Securities and Exchange Commission in a case alleging he bilked investors, engaged in illegal trading practices and misappropriated funds.
The Indiana Secretary of State’s Office has revoked the financial advising license of Fishers money manager Keenan Hauke, who is being investigated by the office over financial irregularities involving a hedge fund he operates.
A Hamilton County judge agreed to delay a court hearing scheduled for Monday morning involving money manager Keenan Hauke, who is being investigated for financial irregularities involving a hedge fund he operates.
Instead of individually notifying the 5,400 investors that Tim Durham and two business partners are accused of defrauding, prosecutors want to keep them apprised of court proceedings through websites and an automated call center.
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.
Federal Judge Jane Magnus-Stinson on Thursday morning vacated the original trial date of May 16 and instead set jury selection for June 8, 2012. Meanwhile, lawyers for Tim Durham argued for his release from a halfway house he was sent to on 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.
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.
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.
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.
Prior to Wednesday’s sentencing, the Secretary of State’s securities division said it reached an agreement to liquidate the assets of Dorothy Geisler, including her home on Geist Reservoir.
The case against Jeffrey and Dana Osler is the latest in what is expected to be a string of suits by the trustee against friends and business associates of Tim Durham who took out loans from Fair Finance but made few if any payments.
Indiana businessman Lowell Hancher has agreed to pay $3 million and never run a public company again to settle allegations by regulators that he carried out three separate fraud schemes over 5 years.
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.
