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The Carl Brizzi, Tim Durham Connection

Fair Finance, the Ohio company owned by Tim Durham and the focus of allegations by federal authorities of operating as a possible Ponzi scheme, has new and troubling revelations. This time, they involve Marion County Prosecutor Carl Brizzi, who’s been at the center of the Durham controversy for his financial ties to the Indianapolis businessman and his role as a board member of Fair Finance. 

According to a Dec. 12 article by the Indianapolis Star, the Durham/Brizzi connection may run much deeper than Brizzi has previously let on. The article reports that Brizzi also invested in Red Rock Picture Holdings, a Los Angeles movie production business that loaned millions of dollars to another company Durham manages, National Lampoon. 

The article says it’s unclear whether Brizzi still holds shares in Red Rock. If he does, however, it would clearly refute a previous statement the prosecutor made when he said he had no financial dealings related to Durham other than those already reported.

Adding further intrigue to the story is how Brizzi actually came to invest in Red Rock in the first place. It is a little known company, and few, if any, analysts apparently follow the stock.

According the Indy Star article, Red Rock has loaned at least $1 million to Daniel Laikin, who served as National Lampoon’s CEO until last year when he was forced to resign amid allegations of stock manipulation. Laikin ultimately pleaded guilty to one felony count of conspiracy. 

Brizzi also owns stock in yet another business controlled by Tim Durham – Dallas-based CLST Holdings. In early December, the Securities and Exchange Commission (SEC) subpoenaed CLST for its financial records.

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