Tim Durham once presided over a financial empire that included Fair Finance, several investment businesses, media properties, mansions in Indiana and California, priceless art pieces, a private jet and a bevy of contemporary and classic sports cars. On June 20, a federal jury found Durham guilty of 12 felony fraud charges.
Federal rules require inmates to serve at least 85% of their sentence even with good behavior. Based on those guidelines, that means the maximum sentence for Durham’s 12 convictions is 225 years.
For the 5,000 investors in Ohio-based Fair Finance whom Durham and two business associates are accused of swindling out of more than $200 million, the conviction is long-awaited justice.
Durham and his attorney say they plan to appeal the 12 felony fraud convictions. For now, Durham remains locked up in the Marion County Jail. On Monday, a hearing will be held to decide if he remains there until his formal sentencing.