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Indiana Republican Money Machine Tim Durham Finally Indicted for Fleecing Amish Investors

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democraticinsurgent Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-16-11 12:13 PM
Original message
Indiana Republican Money Machine Tim Durham Finally Indicted for Fleecing Amish Investors
Beleaguered local businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. are facing a federal indictment on felony charges of wire fraud, securities fraud and conspiracy to commit wire fraud and securities fraud.

The 23-page grand jury indictment, unsealed Wednesday, alleges that Durham and business partner James F. Cochran worked with former Fair Chief Financial Officer Rick D. Snow to devise and execute a scheme to defraud investors in the Akron, Ohio-based company. (Note, most investors were Amish)

Durham's Indianapolis-based Obsidian Enterprises and DC Investmentsco-owned with Cochranwere the primary beneficiaries of the loans, according to the indictment. Those businesses in turn loaned money to a "variety of struggling businesses and start-up ventures," including a car magazine, restaurants, a surgery center, a race car team and a luxury bus leasing business. Many of those borrowers failed, the indictment says.

Authorities have said the company owes 5,000 Ohio investors more than $200 million.

http://www.ibj.com/breaking-durham-two-other-executives...
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Just the tip of the iceberg here. This investigation has been going on for more than a year while Durham and his accomplices have been living it up in luxury, and the Amish investors have lost their life savings. Durham was a significant to contributor to many Indiana Republicans, including Mitch Daniels. Daniels, when asked about giving Durham's funds back to the fleeced investors, said something like 'Oh, that money's already been spent, so no, we can't give it back".
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indypaul Donating Member (896 posts) Send PM | Profile | Ignore Fri Mar-18-11 11:31 AM
Response to Original message
1. Further Investigate
It is not possible to accept the results of any investigations of Durham's or Fair Finance's
activities done by the offices of Brizzi and Rokita. There needs to be a thorough inspection
of possible sales of these products to any Indiana residents which would be a felony. It is
highly questionable that either Brizzi or Rokita's offices could or would investigate this
possibility given the connections Durham had with both of these individuals. This is not
a market driven by supply and demand. Rather, one that was driven by greed and desperation
which makes anything possible.
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