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.
Downtown Transit Center opens
They have known the changes were coming for a while. Now, IndyGo bus riders will have to start getting used to their new routes.
64 arrests in huge northern Indiana drug sweep
64 arrests were made in a massive three-day drug sweep by several law enforcement agencies.
Police: Ex-teaching assistant had sex w/student
A former middle school teaching assistant has been charged with having sex with a student at the school where he worked.
PHOTOS: Dalai Lama & Lady Gaga at Mayor's Conf.
The Dalai Lama and Lady Gaga appeared on stage as part of a panel at the U.S. Conference of Mayors at the Grand Ballroom of the J.W. Marriott.
Dalai Lama & Lady Gaga preach kindness to mayors
Kindness and compassion can't solve all of the world's problems, but the Dalai Lama and Lady Gaga say they can set the stage for…