Lender JPMorgan Chase & Co. took possession of convicted Ponzi schemer Tim Durham’s Geist mansion Thursday after the property failed to draw an offer higher than the bank’s base bid of $2.24 million.
Tim Durham’s 10,700-square-foot Geist home has languished on the market for years with an asking price of $5.5 million.
In a new brief, the government insists it pursued wiretaps in late 2009 only after investigating the business using less-invasive techniques for 7-1/2 months.
The Cleveland law firm representing the bankruptcy Trustee Brian Bash is seeking approval for more than $11 million in fees.
Stephen Blaising said in a recent court filing that he will pay $125,000 to satisfy a lawsuit brought by the bankruptcy trustee representing investors in an Ohio company led by Tim Durham.
Attorneys for the Fair Finance trustee said Tim Durham's ex-wife, Joan SerVaas, has agreed to pay $100,000 and Bernard Durham, his adopted son, $10,000 to settle a lawsuit charging they accepted nearly $300,000 from the disgraced financier.
The case stems from a line of credit the Indianapolis businessman received from Tim Durham's Fair Finance Co. Attorneys for the failed company said Laikin amassed tens of millions of dollars in debt he never repaid.
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.
Attorneys for Tim Durham and his co-defendants cast their clients’ convictions on a total of 25 felony counts as the result of a string of legal missteps, including bungled jury instructions, and giving investigators the right to conduct wiretaps without first demonstrating that “ordinary investigative techniques failed or were unlikely to succeed.”
The attorney charged with recovering some $200 million for the 5,300 investors bilked by Tim Durham’s Fair Finance Co. plans to continue filing lawsuits for reparations into next year.
Many of the defendants pursued by Brian Bash and his team have few, if any, assets. And those that do have the wherewithal to fight litigation for years.
Film company once headed by Indianapolis financier Tim Durham says he transferred $1 million to his Indianapolis lawyer, John Tompkins, while fighting federal securities fraud charges.
A lawyer from one of the nation’s largest law firms is handling the convicted financier’s federal appeal free of charge, court documents show.
The legislature is considering a bill that would require intrastate securities offerings to file audited financials, a safeguard that caused trouble for Fair Finance investors.
Fair Finance bankruptcy trustee Brian Bash, charged with recovering funds for Fair investors, alleges in a court filing that National Lampoon funded convicted Ponzi schemer Tim Durham’s defense. Durham is a former CEO of the film company.
A federal judge says former Indiana financier Tim Durham doesn't have to pay to appeal his conviction for swindling investors out of more than $200 million.
Donald R. Fair, the former owner of Fair Finance Co. who sold the business to fraudsters Tim Durham and James Cochran, agreed to the settlement Thursday.
Shouldn’t the 5,100 Ohio investors who lost more than $200 million when Fair collapsed have seen Fair’s lofty interest rates as a red flag?
Local criminal defense lawyers who tracked the trial of Tim Durham and his accomplices say chances are slim that they would prevail on appeal. One said Durham would have a better chance of winning the lottery.
Former Indianapolis businessman Tim Durham was sentenced to 50 years in prison for running a Ponzi scheme that led to the collapse of Fair Finance, costing thousands of investors $250 million. Accomplices Jim Cochran and Rick Snow received 25 years and 10 years, respectively.
