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Response to Demeter (Original post)

Sat Jun 23, 2012, 07:20 AM

28. Indiana Tim Durham found guilty of 12 counts, including wire and securities fraud


6/20/12 Tim Durham found guilty of 12 counts, including wire and securities fraud

The men that ran Fair Finance — Tim Durham, James F. Cochran and Rick Snow — were convicted in federal court of conning him and 5,000 other investors out of $200.million. They could spend the rest of their lives in prison and pay $250,000 in fines.

The jury in U.S. District Court in Indianapolis deliberated for about eight hours Wednesday before convicting Durham, 49, of all counts the three men faced: 10 counts of wire fraud, one count of securities fraud and one count of conspiracy to commit wire and securities fraud, all felonies.

Cochran, 56, and Snow, 48, were found guilty of the conspiracy and securities fraud counts, as well as some of the wire fraud counts.

The conspiracy count carries a sentence of up to five years in prison, and all of the other counts carry sentences of up to 20 years in prison.

Durham and Cochran were accused of using investors’ money to make loans to themselves, their other companies, and their families y and friends. Snow was accused of helping them hide the bad loans in financial documents.

Durham, who grew up in the small town of Seymour...

more...
http://www.indystar.com/article/20120620/NEWS/120620058/Tim-Durham-found-guilty-12-counts-including-wire-securities-fraud



One of my brothers was in the same class growing up as Durham. I never knew him, much younger than me.

Seymour also famous for John Mellencamp, another classmate of another sibling.


Small world.



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