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.
Top 6 things to do around Indy this weekend
Check out my pick of the top six things to do around Indy this weekend.
Suspect cashes in victim's winning lotto ticket
Johnson County authorities are searching for the person or people responsible for breaking into a vehicle and stealing a winning lottery…
Hundreds honor mom, sons killed in I-65 crash
Hundreds of members of the Greenwood community gathered to honor the family killed in last week’s crash on Interstate 65.
Mother thankful for breast cancer diagnosis
Not too many people are thankful to learn they have cancer -- but one Indianapolis mother calls her diagnosis a blessing.
Don't fall for Marion County jury duty scam
The Marion County Prosecutor’s Office is warning Hoosiers not to fall victim to a jury duty scam.