INDIANAPOLIS - A federal appeals court overturned two convictions against Timothy Durham on Thursday, ordering the former Indianapolis businessman to be resentenced.
Durham was convicted in 2012 of 12 counts of securities fraud, conspiracy and wire fraud in connection with an investment fraud that bilked thousands of elderly investors out of $200 million.
Prosecutors argued that Durham and partners James Cochran and Rick Snow raided Fair Finance to enrich themselves and their friends, and to prop up Durham's other struggling businesses.
On Thursday, the Seventh Circuit Court of Appeals overturned two of Durham's convictions for wire fraud due to prosecution's failure to properly enter key documents into the trial record. The court also ordered Durham to be resentenced.
Durham was sentenced in 2012 to 50 years in prison . A resentencing hearing could potentially see some of that sentence reduced.
The 11,000-square foot home Durham owned in Geist went up for auction in March for $2.2 million . There were no bidders.
Martin University hosts forum on Ferguson
Citizens and community leaders gathered on Monday evening to discuss whether Indianapolis could become the next Ferguson, Missouri.
Jockeys to honor late teenage rider Juan Saez
Jockeys nationwide will honor the 17-year-old apprentice who was killed in a riding accident recently.
Suspected Ind. serial killer charged in 1 death
A man suspected in the deaths of seven women in northwestern Indiana has been charged in one of the slayings.
Ind. girl recovering at home after shark bite
A Greencastle girl was recovering at home after she nearly lost her foot in a shark attack last week in South Carolina.
Man to serve 4 years for fatal hit-and-run
An 18-year-old Niles, Michigan, man will serve four years in prison for fatally striking a pedestrian with his car and fleeing the scene of…
Search warrant served at Indiana doctor's office
Authorities served a search warrant at a Muncie clinic as part of an investigation into the possible overprescribing of prescription painkillers.