Fair Finance going along with appointment of receiver
Attorneys for the company and its parent firm denied any fraud occurred but said receivership nonetheless made sense.
Fraud
Articles
Durham-backed firm to halt trading, dissolve
Dallas-based CLST Holdings Inc. has struggled, and its shares trade for a mere 9 cents apiece.
Not guilty plea entered for ex-IU player Leary
A judge has entered a preliminary not guilty plea for a former Indiana University basketball player charged in connection
with an ex-business partner’s multimillion-dollar fraud scheme.
Ex-Indiana player Leary arrested in fraud case
The 39-year-old Leary was being held Friday in the Monroe County Jail in Bloomington on charges out of Allen County.
Two more sentenced in mortgage fraud scheme
Federal prosecutors say the men were part of a scheme in which straw deals were set up to obtain inflated mortgages on more
than 100 Indianapolis houses.
Fair Finance investors aim ire at U.S. attorney
Ohio residents who put money into Tim Durham’s company want the U.S. Attorney’s Office to seize his and the company’s assets.
Judge pushes back Schrenker’s securities fraud trial
A defense attorney and prosecutors have agreed to delay the trial on securities fraud charges of a former Indiana money manager
who tried to fake his death by jumping from a small plane before it crashed in Florida.
Fair Finance investors fear money is disappearing
Ohio residents who attended investor meeting say recovering funds hinges on locking down assets that remain.
Court affirms receiver for Michelle Schrenker’s assets
Indiana Court of Appeals agrees with lower court’s decision to appoint receiver to oversee finances of ex-wife of convicted
money manager Marcus Schrenker.
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.
Former cemetery owner avoids prison time
Robert E. Nelms received an eight-year sentence that will be served through a community corrections program after pleading
guilty to theft and securities fraud.
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.
Johnson County woman guilty of securities fraud
Wanda Robertson was sentenced to eight years in prison, with four years suspended, after pleading guilty Wednesday.
Ex-investor sentenced in Indiana mortgage fraud
Robert A. Penn, 44, of Naples, Fla., received seven years in prison and was ordered to pay more than $11 million in restitution.
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.
Would-be buyer: Durham double-dipped on Duesenberg deal
Tim Durham struck a deal to sell a vintage Duesenberg for $1 million before auctioning off the same vehicle for $2.9 million,
according to the small-town Michigan mayor who said he agreed to buy it.
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.
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.
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.
Local funeral home operator interested in troubled Memory Gardens
Indianapolis-based Wilson St. Pierre Funeral Service & Crematory is one of two companies that have emerged as potential
suitors of the embattled Memory Gardens Management Corp.