Durham released on $1M bond
Indianapolis - Former Indianapolis businessman Tim Durham is being released on $1 million bond following a detention hearing in California Monday. He was expected to be released later Monday afternoon.
Police arrested Durham last week in his southern California home. He faces 12 charges, including wire and securities fraud.
Durham's freedom was made possible by his ex-wife, Joan, and an ex-father-in-law, Beurt SerVaas, a millionaire industrialist and key city leader for decades. Durham was once quoted as saying he learned a lot about business from his father-in-law.
Wherever Durham decides to stay once he returns to Indianapolis, he'll be confined there, monitored electronically by authorities. He will only be allowed to leave for work and doctor appointments.
An Indiana state senator is breaking with some fellow Republicans and returning campaign contributions from Durham, who is charged with running a Ponzi scheme that defrauded investors of more than $200 million.
Republican Sen. Mike Delph of Carmel wrote a letter to a bankruptcy attorney Monday saying he's returning the $10,000 Durham donated to his campaign in 2006 and 2007.
The investigation into Durham's dealings spurred calls for Gov. Mitch Daniels and other Republicans to return a total of more than $800,000 in contributions. Daniels received about $195,000 but says the money has been spent and there is nothing to return.
Delph wrote in the letter obtained by The Associated Press that he is troubled and embarrassed at the attitude of Republicans who aren't returning Durham's donations.
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