Durham house still on market - 13 WTHR Indianapolis

Durham house still on market

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Tim Durham's multi-million dollar estate is still on the market. Tim Durham's multi-million dollar estate is still on the market.
Durham was sentenced to 50 years in prison on a fraud conviction last week. Durham was sentenced to 50 years in prison on a fraud conviction last week.
INDIANAPOLIS -

Days after convicted Indianapolis businessman Tim Durham was sentenced to 50 years in prison, Eyewitness News has learned that repaying the victims in his fraud case continues to be more and more difficult.

Durham may never leave federal prison alive and his 5,000-plus victims will likely never again see their hard-earned money.

"My dad is 86 years old. We had to represent him and tell his story. It's devastated them and my dad has cried. He has stayed up at night worrying. He feels he was fooled," said Janey Kalina.

Kalina's father lost $170,000 dollars, which his life savings as a farmer. In total, $250 million estimated to be tied up in this fraud case. But so far, only $5.5 million has been recovered for the victims of Ohio-based company Fair Finance.

US Attorney Joe Hogsett spoke at Friday's sentencing.

"This ordeal is truly a tragedy for all the families involved," Hogsett said.

Federal prosecutors in court called Durham's former mansion off Olio Road a "white elephant," saying it will likely never sell. The house has been on the market for more than two years.

Eyewitness News has learned someone is leasing the giant estate. The real estate agent also tells us they have had several offers to buy the mansion, but they've been rejected by the bank.

With a $5.5 million asking price, it's hardly enough to repay all the victims. Also, houses of this size aren't easily sold, especially one with a two-story, million-dollar garage.

The home just two doors down from one once owned by former Pacers star Reggie Miller, which sold for a million less than the Durham asking price last year, which included an antique collection.

Even if someone was able to pony up the full asking price for Durham's 23-room mansion, the listing agent says seeing the sale through "will take time."

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