Trustee: Durham used Fair funds for gambling, donations
The bankruptcy trustee said Durham spent $2.8 million on gambling and resorts, $3.3 million on interior decorating and $14
million on real estate.
Fraud
Articles
Feds: Texas pastor misused loan for Indiana church
A Houston minister accused of using money borrowed to build a new church to buy a mink coat and a Mercedes Benz missed his
initial hearing in Indianapolis on Tuesday.
Ex-Indiana University player Leary pleads guilty in fraud
Todd Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds.
His agreement with prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly
$295,000 in restitution.
Banker who wreaked havoc fesses up to felony charge
Overseeing a portfolio filled with deteriorating loans is downright
excruciating, as lending officers who’ve lived through the carnage of the recession can attest. Rob Tolle apparently
cracked under the pressure.
Trustee sues real estate exec for $115M
The founder of an Indianapolis real estate firm is accused of preying on longtime friends to help a Miami man perpetrate a
$900 million Ponzi scheme. Sydney “Jack” Williams persuaded more than a dozen Indiana investors to lend millions
of dollars at high interest rates to a food brokerage firm called Capitol Investments USA Inc.
Ex-owner of cemeteries gets prison time
Robert Nelms, ex-owner of cemeteries in four states, including Indiana, has been sentenced to between 32 months and 10 years
in prison for embezzling $4.2 million from a Grand Rapids cemetery.
Former loan officer charged with falsifying documents
Prosecutors say Robert Tolle falsified a construction progress inspection report while at Old National Bank. He faces a maximum
30-year prison sentence and $1 million fine.
FBI scoops up Tim Durham’s car collection
An agreement with Durham's attorney paved the way for FBI agents to pick up 18 cars from Durham's residences in Indianapolis
and Los Angeles.
Hundreds turn out for Marcus Schrenker auction
One attendee paid $28,000 for a $68,000 boat. But others were just curious about a man who investigators say abandoned his
plane over Alabama, then used a motorcycle he'd stashed in a shed to elude authorities.
Durham attorney blasts FBI after vehicle seizures
Embattled financier Tim Durham’s lawyer, Larry Mackey, said the FBI should have known a bankruptcy trustee had the titles.
An attorney for
the trustee said investigators were aware.
Shelbyville man sentenced for ripping off employer
John K. Branam was sentenced to 57 months in prison after pleading guilty to embezzling $1.6 million over four years from
King’s Title & Abstract Co.in Shelbyville.
Local funeral home operator in Michigan jail
Robert Nelms will spend at least a month in jail until the sale of Memory Gardens Management Corp. is complete. He is awaiting
sentencing in Michigan and faces up to three years in prison.
Fair Finance trustee sues Dan Laikin for $19M
The suit against Laikin, a longtime friend of Fair Finance CEO Tim Durham, is the first major legal move to untangle the morass
of related-party loans that propelled the company into insolvency.
Path to Fair Finance funds full of detours, roadblocks
The troubles at U.S. Rubber Reclaiming demonstrate the challenges a bankruptcy trustee faces in trying to recover money for
investors.
Four charged with income tax fraud
A business owner and three people allegedly involved in a large mortgage fraud scheme face prison sentences for failing to
report income or file certain tax forms.
Fair Finance co-owner charged with domestic battery
The embattled businessman was booked into the Hamilton County Jail following an incident Saturday morning at his Geist Reservoir
home.
Mysterious $14M Verizon payable looms over Durham firm
CLST Holdings founder Al Goldfield says the company hid a $14 million debt to Verizon Communications Inc. in the years after
he left.
Judge halts dissolution of struggling Durham firm
A judge has blocked Tim Durham and other directors of Dallas-based CLST Holdings Inc. from dissolving the struggling company
at the close of business Friday. Its largest shareholder hopes to place dissident candidates on the board.
Bankruptcy trustee for Fair Finance wades into morass of insider loans
Brian Bash will need to untangle a web of related-party transactions that have befuddled nearly everyone who has tried to make sense of them.
Judge weighing request to unseal Fair Finance records
A federal judge is weighing whether to unseal search-warrant documents related to the federal investigation of businessman
Tim Durham and Akron, Ohio-based Fair Finance Co. following a hearing Thursday in Youngstown, Ohio.