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Courts and Crime


Tim Durham sentenced to 50 years
Former owner of Akron-based Fair Finance owner faced up to 225 years
Story by DAN GOLDBLATT


 
In The Region:
Convicted Indianapolis businessman Tim Durham did not get the full 225-year sentence prosecutors sought, but may still spend the rest of his life in prison.  Indiana Public Radio’s Dan Goldblatt that Judge Jane Magnus-Stinson handed down a half-century sentence Friday after hearing from victims of Durham’s failed investment bank.
Tim Durham received a 50 year sentence Friday after the US District Court in Indianapolis heard from victims of Akron, Ohio based Fair Finance.  One of those who spoke was an elderly nun who lost more than $100,000 of her own money she was setting aside to help build a school for mentally challenged children.

Durham did speak in his own defense, but the judge later said she did not find remorse in his statement. US District Attorney Joe Hogsett says no one is a winner in the sentencing, but justice has been done.

“It is my hope that these victims can  now begin the long and difficult process of finding peace, and faith and trust once more,” he says.

More than 5,000 people lost a total of $200 million when the bank Durham bought in 2002 collapsed. Durham and his associates were convicted of spending investor dollars on lavish homes, yachts, and cars. 

Durham’s lawyer John Tompkins says he still plans to appeal the original conviction, handed down this summer.
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