Indiana News

Ohio Man Says Durham Robbed Family

6/12/2012


Donald Russell says he and his mother both invested money into Fair Finance. (WIBC.com photo: Mike Corbin)

An Ohio man says Indianapolis businessman Tim Durham used his money and the funds of other investors as his personal "piggy bank."

Listen:

Donald Russell testified at Durham's federal trial Tuesday. He says he invested $350,000 and his mother put another $125,000 into Fair Finance. The retired police officer says he started investing in the Akron, Ohio-based company back in 1991. He says he invested in the firm based upon its reputation which dated back to the 1930s. He says his own father held the firm in high esteem.

Russell testified that he didn't know that Durham took over Fair Finance in 2002. He says he noticed something strange in 2009, when his $2500 monthly interest check on his investment wasn't on time. He says he spoke with one of Durham's partner's James Cochran on the phone. He says Cochran tried to assure him that everything was okay and Russell did receive the check shortly after speaking with Cochran. However, Russell said he remained uneasy about Fair Finance. On November 23rd of that year, he heard about the federal raid on the firm.

Russell says his mom died at 82 one month after the raid. He says she worried and suffered as a result of their financial loss and and he partly blames her death on Durham. Russell says he was especially upset to hear in court that Durham had a personal loan account of $20 million through Fair Finance. Russell believes Durham deserves jail time.

MORE FROM WIBC NEWS:
Indianapolis Defense Attorney Weighs In On Durham Case (6-11-12)
Former Firm Owner's Accusations Lead Testimony in Tim Durham Trial (6-11-12)
Tim Durham Trial Getting Underway (6-11-12)
Jury Selected in Trial of Embattled Money Manager Tim Durham (6-8-12)
Judge Denies Motion for Dismissal in Durham Case (4-19-12)
Durham Attorney Downplaying New Charge (2-22-12)
Durham's Legal Team Wants Charges Dropped (1-6-12
Durham's Attorney Calls for Dismissal of Charges (12-21-11)
Indianapolis GOP to Turn Over Durham Donations (9-14-11)
Tim Durham Files Request to Return to Mansion (8-16-11)
Durham Co-Defendent Seeks Public Defender (7-14-11)
Bosma to Return Durham Contributions (4-30-11)
Durham Released From Halfway House (4-11-11)
June 2012 Trial Set for Durham (4-7-11)
Durham Taken Into Custody After Hearing (4-6-11)
State Senator to Return Durham's Contributions (3-22-11)
Republican Party Will Not Return Durham's Donations (3-17-11)
Geist Businessman Indicted (3-16-11)
Durham Linked to FBI "Cramming" Investigation (12-16-10)
Indy Businessman Faces Foreclosure on Mansion (9-17-10)
Durham Facing Additional Financial Trouble (4-29-10)
Lawsuit Filed Against Indianapolis Businessman (12-4-09)

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