Indiana Money Machine Tim Durham Finally Indicted for Fleecing Amish Investors

Beleaguered local businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. are facing a federal indictment on felony charges of wire fraud, securities fraud and conspiracy to commit wire fraud and securities fraud.

The 23-page grand jury indictment, unsealed Wednesday, alleges that Durham and business partner James F. Cochran worked with former Fair Chief Financial Officer Rick D. Snow to devise and execute a scheme to defraud investors in the Akron, Ohio-based company. (Note, most investors were Amish)

Durham's Indianapolis-based Obsidian Enterprises and DC Investments—co-owned with Cochran—were the primary beneficiaries of the loans, according to the indictment. Those businesses in turn loaned money to a "variety of struggling businesses and start-up ventures," including a car magazine, restaurants, a surgery center, a race car team and a luxury bus leasing business. Many of those borrowers failed, the indictment says.

Authorities have said the company owes 5,000 Ohio investors more than $200 million.

http://www.ibj.com/breaking-durham-two-other-executives...

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Just the tip of the iceberg here. This investigation has been going on for more than a year while Durham and his accomplices have been living it up in luxury, and the Amish investors have lost their life savings. Durham was a significant contributor to many Indiana Republicans, including Mitch Daniels. Daniels, when asked about giving Durham's funds back to the fleeced investors, said something like 'Oh, that money's already been spent, so no, we can't give it back".

$200 million burned up without a trace. No big deal. Besides, the Amish don't really have need of money. Not like Tim Durham, who I'm sure didn't work for free. Now that the indictments have come down, though, I'm sure we'll be treated to the spectacle of poor Mr. Durham, left holding the bag, and he didn't do nothin'! Couldn't tell you where the money went, doesn't know how all this complicated money stuff works, and has no idea why Obsidian Enterprises and DC Investments paid him all that money.

Timmy was famous for having wild parties with imported Playboy playmates. I know of one party at his palatial estate that included a dwarf dressed as an elf. He is as dirty as they come.

:)