Indiana News

U.S. Attorney Seeking Life Terms For Durham & Partners

6/25/2012


Tim Durham (WIBC.com file photo)

U.S. Attorney Joe Hogsett says his office will seek life in prison terms for Indianapolis businessman Tim Durham and partners Jim Cochran and Rick Snow.

Listen:

This after a federal judge denied pre-sentencing release for Durham and Cochran and granted Snow home detention with GPS monitoring. In her ruling, Judge Jane Magnus-Stinson referred to the Bernie Madoff case and said she was also using her "common sense."

Stinson bought the prosecution's argument that Durham and Cochran's ages - 50ish - and possible sentences make them flight risks. Stinson granted Durham partner Rick Snow home detention and GPS monitoring stating that while he was highly paid, his crimes didn't rise to the level of Durham and Cochran's. She also cited Snow's young family, testimony from Snow's wife Stacey and his crime-free record as reasons for granting home detention pending sentencing.

Durham attorney John Tompkins argued that Durham still has assets and could use those assets and his knowledge to help pay back bilked investors. Tompkins said he hoped to convince the judge that was good enough reason release Durham prior to sentencing. A jury convicted Durham and partners of conspiracy, wire and securities fraud. They bought the prosecution's argument that the men bilked 5000 investors in a $200 million Ponzi scheme.

Tompkins says Durham and Cochran will be moved from the Marion County Jail to a federal prison facility, possibly in Kentucky.  Hogsett says he expects the judge to set a sentencing hearing to take place within 90 days. 

MORE FROM WIBC NEWS:
Durham Attorney Planning Appeal (6-21-12)
Jury Finds Tim Durham Guilty on All Counts (6-20-12)
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)

·
Like

Copyright by WIBC.com © 2012. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


WIBC News Traffic Hotline

If you see a news story or traffic tie-up, let us know!

Call:  317.637.6397

Email:  news@wibc.com

Send photos:   pictures@wibc.com

Search WIBC.com

Garrison Chicks Abdul At Large Abdul At Large