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Fair Finance Press Release Creates More Questions For Investors

A press release from Fair Finance on the state of its affairs leaves many unanswered questions, not the least of which is when and if investors will be able to redeem their investment certificates. Fair Finance, which is owned by Indianapolis businessman Tim Durham, has been closed since Nov. 24, after the FBI seized banking documents and other records at Fair’s headquarters in Akron, Ohio. Another Durham-owned business, Indianapolis-based Obsidian Enterprises, was raided by FBI agents that same day. 

The U.S. Attorney’s Office in Indianapolis filed court papers last month alleging that Fair Finance (also known as Fair Financial) had been operating a Ponzi scheme, using money from the sale of new investment certificates to pay off earlier investors.

In the press release issued on behalf of Fair Finance by Akron attorney Ron Kaffen, no definitive word is given on when investors – all Ohio residents and the individuals who loaned Fair Finance more than $200 million by purchasing the company’s investment certificates – can collect on what they’re owed. Instead, the release says: 

“Fair has still not determined when or if it will be able to resume regular business with regard to the sale and redemption of its investment certificates. Fair also intends to establish a help line in the near future to answer investor related questions. We regret that we have not been able to provide more information regarding these recent developments. Fair intends to provide as much information as is available during the coming days and weeks. We appreciate everyone’s patience as we work through these issues.” 

One thought on “Fair Finance Press Release Creates More Questions For Investors”

  1. Gary Says:

    How and why can Fair Finance refuse to give an investor thier money back when they are in breach of the contract?

    By refusing to redeem matured investment certificates there must be some way for all investors with certificates matured or not to get thier money back?

    Why would they even be allowed to sell more certificates when they are refusing to redeem the matured certificates?

    I am having a hard time understanding why assets of Timothy Durham and James Cochran and all the companies are not seized to protect the investor’s.

    A prosecuter gets some type of assurance that the assets will not be disposed of?

    Well as an investor I was also told I would get interest payments and guess what?

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