Indiana News

Investigation of Indy Financier Troubles GOP

12/12/2009

A federal investigation into the financial dealings of a wealthy Indianapolis businessman and major donor to Indiana Republicans could take a toll on the party's election chances next year.

The scrutiny of Timothy Durham already has forced one Republican candidate for Marion County sheriff to drop out. It's also turned up the heat on the city's top law enforcement official, who has personal and financial ties to Durham. Some other Republicans are trying to distance themselves from him.

Federal authorities in November raided the offices of Durham's Indianapolis-based Obsidian Enterprises, a leveraged-buyout firm, and Fair Finance of Akron, Ohio. They've alleged that one of his companies bilked investors.

Durham hasn't been charged and through his attorney says he's done nothing wrong.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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