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.
Indy Going Blue for fallen IMPD, NYPD officers
It started out as a local movement to show support for Indianapolis Police – but not Indy Going Blue has spread.
Shoppers out in force weekend before Christmas
As usual, procrastinators and deal-seekers made the weekend before Christmas the biggest shopping weekend of the year.
Crash closes lanes on I-65 southbound
A single-car collision closed two lanes of I-65 southbound Sunday.
Two men killed in shooting on city's east side
Police were investigating after two men were shot and killed on the city's east side Thursday night.
IMPD: 1 person shot on city's south side
One person was shot on the city's south side early Sunday, Indianapolis Metro Police officers confirmed.
Squatters may have sparked parking garage fire
Indianapolis fire crews said homeless squatters may have sparked a fire Sunday in a downtown Indianapolis parking garage.