Indy Businessman Faces Foreclosure on Mansion
Embattled businessman Tim Durham isn't making payments on his suburban Indianapolis mansion, and JP Morgan Chase has filed a mortgage-foreclosure suit.
The Indianapolis Business Journal and WISH-TV report Durham hasn't been making the $18,000 monthly mortgage payments. JP Morgan Chase filed the foreclosure suit last month in Hamilton County, saying Durham still owes the company $3.5 million on the mortgage.
JP Morgan Chase is asking a court to order the mansion sold through a sheriff's sale.
The FBI raided the offices of two Durham companies last year but no criminal charges have been filed. Durham's Akron, Ohio-based company Fair Finance Co. collapsed last year.
Durham's attorney has said his client believes he has done nothing wrong.
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