Indiana News

Bosma to Return Durham Contributions

Bankruptcy trustee had sued to recover money for investors in alleged Ponzi scam

4/30/2011

House Speaker Brian Bosma will return 10-thousand dollars in campaign contributions from embattled Indianapolis financier Tim Durham.

Durham is facing federal charges accusing him of running a Ponzi scheme through Fair Financial, one of his companies. Fair Financial's bankruptcy trustee had sued Bosma and other Republican politicians demanding they turn over campaign donations to help reimburse investors.

Bosma says the Durham donations were made five years ago and have long since been spent, but says he opted to pay back the money from other campaign funds to bring a quick end to the controversy.

The lawsuit has been dismissed, a day after it was filed. Bosma says its filing on Thursday was a mistake -- he says a meeting Tuesday had ended with the trustee agreeing to give the speaker till next week to decide what to do. Instead, he says, the trustee accidentally filed the case early.

Bosma is the second state legislator to hand over Durham contributions. Carmel Senator Mike Delph voluntarily turned over a 10-thousand-dollar donation last month.
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