Durham trial heads to second day - 13 WTHR Indianapolis

Durham trial heads to second day

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INDIANAPOLIS -

The fraud trial of former Indianapolis businessman Tim Durham and two of his business partners enters its second day in Federal Court.

Opening statements began Monday and testimony is expected later today. Durham and his business partners are charged with 12 felony counts of wire fraud, securities fraud and conspiracy to commit those crimes.
    
Prosecutors contend about 5,000 investors from his Ohio-based company, Fair Finance, were bilked out of about $200-million. The prosecution told the jury Monday that Durham used the money as part of Ponzi scheme for personal gain.
    
In his defense, Durham's attorney painted a different picture, blaming in part, "bad publicity."

The former owner of Fair Finance told the jury on Monday that Durham destroyed his company by promising investors high interest rates, then used their money to fund other businesses.
    
Durham himself laid the ground for that defense in an exclusive interview with Anne Marie Tiernon of Eyewitness News during the early stages of the FBI investigation in 2010.

The trial is expected to last as long as a month.

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