Timothy Durham to appear in Indiana court April 6
Indianapolis - A former Indiana businessman accused in a $200 million fraud scheme has been ordered to appear in court in Indianapolis next month.
U.S. attorney's office spokeswoman Mary Bippus in Indianapolis says an initial hearing for 48-year-old Timothy Durham will be held April 6 in federal court.
A federal magistrate in Los Angeles on Monday ordered Durham, who lives in California, released on $1 million bond. U.S. attorney's office spokesman Thom Mrozek in Los Angeles says Durham agreed to find a home in Indianapolis, where he will be placed on electronic monitoring.
Durham and two business partners face 12 felony counts, including securities fraud and are accused of defrauding about 5,000 investors in Akron, Ohio-based Fair Finance Co. of more than $200 million.
(Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)