Durham, 1 partner to be jailed until sentencing
A federal judge has ordered an Indiana financier and a business partner jailed until they are sentenced for swindling investors out of $200 million.
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Judge orders Durham, Cochran jailed until sentencing
Convicted Ponzi schemers Tim Durham and James Cochran will be held in a federal prison until sentencing, while accomplice Rick Snow will be confined under home detention, under an order issued Monday afternoon by U.S. District Judge Jane E. Magnus-Stinson.
Durham, Fair Finance partners face detention hearing
A federal judge will hear evidence on whether Tim Durham, Jim Cochran and Rick Snow should be kept in jail until they are sentenced.
Shelbyville casino could exit bankruptcy in August
A judge on Thursday approved procedures for the potential sale of the property. Bids must be accepted by July 20, and an auction will be conducted on July 31.
IU to roll out student financial literacy program
Indiana University says its plans to offer a financial literacy program to give students the tools to complete college without excessive debt.
Outlook improves for Fair Finance investors
A New York firm is contacting Fair Finance Co. investors seeking to purchase their bankruptcy claims—a sign of growing optimism that investors in the defunct business will secure a sizable recovery.
Durham attorney vows to appeal guilty verdict
An attorney for convicted fraud mastermind Tim Durham vowed Thursday to appeal the case to the U.S. Supreme Court if necessary to prove his client did nothing wrong.
Durham found guilty on all counts
U.S. Attorney Joseph Hogsett hailed the jury's decision, calling the case "the most significant piece of litigation the Southern District has seen in a generation." Tim Durham and co-defendants Jim Cochran and Rick Snow were handcuffed and taken to the Marion County Jail.
Mainstreet Property affiliate stages $110M IPO
Mainstreet owns 18 percent of HealthLease Properties Real Estate Investment Trust, which sold 11 million shares of stock at $10 each. The stock began trading Wednesday morning on the Toronto Stock Exchange under the ticker HLP.UN.
Jury begins deliberations in Durham fraud trial
The jury began deliberations Wednesday morning in the federal fraud trial of financier Tim Durham and two co-defendants.
Durham trial closing arguments provide clashing accounts
The prosecution described Tim Durham as "the mastermind" of a Ponzi scheme, while partner Jim Cochran acted as the front man who lied "to people's faces," and Chief Financial Officer Rick Snow served as the "backroom numbers guy."
Defense rests in Durham trial without defendants testifying
Defense attorneys in the federal fraud trial of Fair Finance executives Tim Durham, Jim Cochran and Rick Snow rested their cases Tuesday morning after calling just one witness and introducing a handful of exhibits.
Prosecution rests after testimony from Fair Finance trustee
Attorneys for Tim Durham and his co-defendants are expected to start their defense Tuesday morning and wrap it up in the afternoon. The jury is expected to begin deliberations Wednesday.
Durham prosecutors wrap case with details on asset transfer
In the weeks before an FBI raid shut down Fair Finance Co., top company executives led by Indianapolis financier Tim Durham devised a last-ditch maneuver they hoped would persuade Ohio regulators to allow them to keep selling investment certificates.
AUDIO: Wiretaps capture Durham, co-defendants scrambling
A series of government-recorded phone calls have provided some of the most riveting courtroom moments during the fraud trial of Tim Durham and two co-defendants.
Durham trial: Auditor expected problems at Fair Finance
The accounting firm Tim Durham hired to review the Ohio company’s 2003 finances refused to complete an audit because of concerns about the accuracy of its numbers and the appropriateness of its practices. The FBI raided Fair Finance in November 2009.
Fair Finance CFO staying out of prosecutors’ crosshairs
Rick Snow, Fair Finance Co.'s former chief financial officer, isn't accused of collecting insider loans like co-defendants Tim Durham and Jim Cochran. But he's facing the same felony charges.
Analysts say Angie’s List on path to profitability
Indianapolis-based Angie’s List hasn’t made a profit since it was founded nearly 17 years ago. But analysts think the company that offers consumer-written reviews of service providers is on track to become profitable in 2014.
Durham prosecutors ask to admit IBJ story as evidence
Federal prosecutors in the Tim Durham fraud trial on Wednesday sought to introduce into evidence an IBJ investigative report from October 2009, but a judge agreed with a defense attorney and denied the request.
Trial evidence shows desperation in Fair Finance’s final days
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.