Indiana News

Jury Finds Tim Durham Guilty on All Counts

6/20/2012

Indianapolis businessman Tim Durham and partners Jim Cochran and Rick Snow are now sitting in the Marion County Jail.

The trio is in the custody of U.S. Marshals after the jury found them guilty of bilking 5,000 investors in a $200 million Ponzi scheme. The jury found Durham guilty on all twelve counts of conspiracy to commit fraud, wire fraud and securities fraud. They found Jim Cochran guilty on eight of the counts and Rick Snow guilty on five of the counts. The men are being held pending a detention hearing next Monday morning before Judge Jane Magnus-Stinson.

U.S. Attorney Joe Hogsett says the convictions show how such cases won't be tolerated by his office and he congratulated his team including lead prosecutor Winfield Ong. Ong stated that he'll likely seek life in prison for Durham. He says they're still mulling over suggested sentences for Durham's partners.

Ohio investor Donald Russell says the convictions renew his faith in the justice system and the nation. Russell and his deceased mother lost $500,000 in life savings that they invested in one of Durham's companies Fair Finance. Russell says the convictions are just the beginning. He's among numerous investors pursuing civil suits in an effort to recover lost money.

MORE FROM WIBC NEWS:
Can Durham Investors Recover Money? (6-20-12)
Durham Jury In Deliberations (6-20-12)
Durham Fate In Jury Hands (6-19-12)
Defense Rests In Durham Trial (6-19-12)
Prosecution Rests In Durham Trial (6-18-12)
Auditor Testifies In Durham Trial (6-15-12)
Indy Attorney Sizes Up Durham Jury (6-15-12)
FBI Wiretaps & Email In Durham Trial (6-14-12)
Former Employee Says Durham Lied to Investors (6-13-12)
Ohio Man Says Durham Robbed Family (6-12-12)
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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