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.
Hoosier Hoop Hysteria scores: Jan 30
Check out the scores and highlights from Hoosier Hoop Hysteria:
200 animals rescued from Muncie pet shop
A Muncie pet store was shut down after it was raided by Muncie Animal Control on Friday.
Alternative high school opens in Beech Grove
A program that targets at-risk students has found success in Kokomo and was expanding across the state.
Corrections officer accused of sexual misconduct
A Howard County Community Corrections officer turned himself in to police Friday evening after a warrant was issued for his arrest a week earlier.
Police arrest 2 in double shooting
Indianapolis police arrested two men in connection with a shooting that killed one person and critically injured another.
Not guilty plea for 4th Richmond Hill suspect
Investigators had been suspicious of the man charged this week with murder and arson in the deadly 2012 Indianapolis house explosion before a…