Durham, partners face detention hearing

By: Associated Press Email
By: Associated Press Email

A federal judge will hear evidence on whether an Indiana financier and his business partners who were convicted of swindling investors out of $200 million should be kept in jail until they are sentenced.

Prosecutors likely will argue during the hearing Monday that former GOP donor Tim Durham is a flight risk and shouldn't be released.

A federal jury in Indianapolis last week found Durham guilty of securities fraud, conspiracy and 10 counts of wire fraud. His business partners also were convicted of conspiracy and securities fraud, and some wire fraud counts. When sentenced, they could face decades in prison.

The men were charged with raiding Akron, Ohio-based Fair Finance
for personal use and conspiring to hide the consumer finance company's depleted condition from investors.

Durham's attorney says he'll appeal.

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