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.
Securities fraud
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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.
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.
State securities regulators strike deal with E-Trade
The Indiana Securities Division has finalized a settlement with financial-services firm E-Trade following accusations that the company misled Hoosier investors about the safety of auction-rate securities, Secretary of State Connie Lawson said Wednesday.
VIDEO: Fair Finance investor’s family lost $475K
Donald Russell, a retired deputy sheriff, is among the more than 5,000 clients of Fair Finance who lost big investments with the Ohio firm. After testifying on Tuesday during the fraud trial for Fair owner Tim Durham, he shared his story with IBJ.
No lockstep defense strategy for Durham co-defendants
Tim Durham and his co-defendants in the fraud case involving Fair Finance sit on the same side of the courtroom, but that doesn't mean their interests are always aligned.
Durham trial: Fair Finance controller details cash crunch
The former controller at Fair Finance is testifying at the fraud trial of Tim Durham as a star witness for the federal government in exchange for immunity from prosecution.
Donald Fair leads off government’s case against financier Durham
The man whose father founded Ohio-based Fair Finance during the Great Depression led off the government's case on Monday against the Indianapolis men accused of looting the company and leaving its investors with $200 million in losses.
Judge, attorneys in Durham trial look for jurors untainted by media reports
A federal judge and a handful of attorneys are selecting jurors who could determine the fate of indicted financier Tim Durham and his co-defendants. The jury-selection process, which began Friday morning, launched what’s expected to be a three-week trial over alleged wire and securities fraud.
Dead fugitive from central Indiana defrauded hundreds
Oregon authorities say 62-year-old Phillip Ferguson died last week from a gunshot wound to the head soon after fleeing from two officers and an FBI agent. Ferguson vanished in 2000 after being accused of bilking more than 600 investors out of $30 million.
Hauke receiver files suit to recover $600K from Arizona investor
Attorney William Wendling will try to collect $1 million to $2 million from a handful of investors in Samex Capital Ponzi scheme.
Ex-investment manager Hauke gets 10 years for fraud
Keenan Hauke of Fishers, who pleaded guilty to securities fraud in December after costing hedge fund clients $7 million, received a 10-year federal prison sentence Friday morning.
Teachers trust fund broker reaches settlement
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, has reached a settlement. Karandos agreed to a 75-day suspension from working in the securities industry and may pay up to $50,000 in restitution.
Two firms accused of bilking investors out of $1.5M
State officials have filed civil suits against Plan America LLC in Indianapolis and Rykoworks Capital Group LLC in Brownsburg, accusing them of fraud and embezzlement.
Trustee seeks $1B from Fair Finance’s lenders
Fair Finance Co.’s bankruptcy trustee finally has found some deep pockets to go after in his quest to recover money for the small-time Ohio investors who lost more than $200 million when the Tim Durham-led company failed two years ago.
Former Hoosier sentenced in Florida Ponzi case
Developer Sydney “Jack” Williams received one year in prison and a $25,000 fine for failing to report millions of dollars he received in commissions related to a Florida investment scheme.
Feds: Hauke OK’d disastrous real estate investments
Prosecutors allege Fishers investment manager Keenan Hauke hid losses for seven years by shifting assets among accounts and using new investors’ money to fund withdrawals.
SEC accuses Positron CEO of misleading investors
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors’ knowledge.
Former Hoosier pleads guilty in Florida Ponzi case
Former Indianapolis developer Sydney “Jack” Williams admitted to failing to report $6.4 million in income from 2004 through 2007 that he earned from Miami Beach, Fla.-based Capitol Investments, run by CEO Nevin Shapiro.