Fair Finance investors fear money is disappearing
Ohio residents who attended investor meeting say recovering funds hinges on locking down assets that remain.
Greg Andrews
Articles
Durham yacht up for sale; asking price $4.8 million
Indianapolis financier Tim Durham’s famed 98-foot yacht is up for sale for $4.8 million. Durham has been selling some of his
holdings in recent months as financial pressures have intensified after the FBI raided his offices in Indiana and Ohio.
One exec pays off risky loan, another pays a big price
Emmis’ Jeff Smulyan paid off a loan collateralized by nearly all his Emmis stock. Retired Duke Realty Chairman John Wynne is facing new fallout from his margin loan, with the lender on his Williams Creek home pursuing foreclosure.
Simon says husband’s shrinking fortune spurred new will
Bren Simon says in a new court filing that her billionaire husband Mel Simon granted her a bigger share of his fortune in
the last year of his life because of alarm over Simon Property Group’s plunging stock price and a sharp cut in its cash
dividend.
Bank says Durham had no right to sell Duesenberg
A legal brouhaha over the recent auction of a Duesenberg automobile by Tim Durham has taken a new twist, with Durham’s bank
charging the financier didn’t have the right to sell the car in the first place.
Ohio lawmaker wants Fair Finance owners’ assets frozen
An Ohio congressman is upset the U.S. Attorney’s Office in Indianapolis isn’t seeking to freeze the assets of
Fair Finance Co. owners Tim Durham and Jim Cochran.
Brizzi silent on controversy as he opts against 3rd term
The written statement Carl Brizzi released Thursday saying he will not seek a third term as Marion County prosecutor makes
no reference to the controversy surrounding his business and personal ties with embattled Indianapolis financier Tim Durham.
Durham trailer-maker sued for nearly $1M
First Merchants Bank is seeking nearly $1 million from Tim Durham and his companies through a recently filed loan-default
lawsuit.
Durham’s Fair Finance drops effort to sell securities
Ohio-based Fair Finance Co. told securities regulators this week that it is withdrawing its request for approval
to sell an additional $250 million in investment certificates.
Simon family fight breaks out over billionaire’s fortune
Melvin Simon’s
daughter Deborah filed court papers Thursday afternoon charging her father was coerced into approving a
new estate plan in February 2009 that dramatically increased the amount of his fortune going to her stepmother, Bren.
Investors in failed Church Extension poised to recoup 70 percent
Professionals liquidating the not-for-profit have so far recovered nearly 68 percent of the $82 million owed
investors.
More than 1,100 attend Fair investor meeting
A meeting of Fair Finance Co. investors held Tuesday night at a northeast Ohio hotel drew an overflow crowd of 1,100 people.
IBJ, Wall Street Journal seek unsealing of Durham records
Indianapolis Business Journal and The Wall Street Journal have joined the legal fight to unseal search
warrant documents related to the federal investigation of businessman Tim Durham.
Fair Finance’s past gave investors, regulators false comfort
The Akron company had been meeting its obligations for decades before Tim Durham acquired it seven years ago.
NEWSMAKER: High-flying exec Durham ensnared in probe
The U.S. Attorney’s Office alleged in court papers that one of his businesses, Ohio-based Fair Finance Co., operated as
a Ponzi scheme.
Durham firm departing top floor of Chase Tower
Tim Durham’s Obsidian Enterprises Inc. plans to vacate the top floor of the state’s tallest building next month, real
estate sources say.
Fair Finance investors file additional fraud suit
More than three dozen residents of a northeast Ohio county who invested in Fair Finance Co. are seeking to recover more
than $2.1 million from the shuttered company.
Newspapers seek to unseal Durham search warrants
Daily newspapers on Thursday filed a motion seeking to unseal search warrant documents related to the federal investigation
of Indianapolis businessman Tim Durham and Akron, Ohio-based Fair Finance Co.
Buyer of prized Durham Duesenberg alleges fraud
A Virginia businessman is suing Tim Durham, alleging he and other defendants manipulated the September auction of a 1930 Duesenberg
that sold for $2.9 million.
Still hoping to sell securities, Fair Finance seeks extension
Tim Durham’s Fair Finance Co. says it needs another 30 days to provide Ohio regulators with a mountain of documents
they requested relating to insider loans and other issues.