INDIANAPOLIS: An attorney for an Indianapolis financier convicted of swindling some $200 million from investors in Akron-based Fair Finance Co. as his business fell apart claims the government caused the company’s collapse by ruining its reputation.
The claims were included in documents that Tim Durham’s lawyer, John Tompkins, filed Wednesday in federal court, protesting a recommendation that a judge sentence Durham to 225 years in prison. A sentencing hearing is scheduled for Nov. 30.
A federal jury in Indianapolis convicted Durham in June of securities fraud, conspiracy and 10 counts of wire fraud. Prosecutors claimed that after buying Fair Finance in 2002, Durham and his partners stripped it of its assets and tapped it to buy mansions, classic cars and other luxury items. Prosecutors said the men also funneled funds from Fair Finance to Durham businesses.