Indiana News

Jury Selected in Trial of Embattled Money Manager Tim Durham

Opening Statements Scheduled for Monday

6/8/2012


Tim Durham (WIBC.com file photo)

A jury has been seated in the Tim Durham trial.

Listen:

The 16-member jury will get preliminary instructions and hear opening arguments Monday morning. The jury includes four alternates and seven women. On Friday, potential jurors heard lengthy prosecution readings of the charges against Durham. He along with partners James Cochran and Rick Snow are charged with conspiracy and wire fraud and securities fraud. They were all present in the court of U.S. District Court Judge Jane Magnus-Stinson and will continue to be throughout the trial.

Prosecutors say Durham and partners bilked 5,000 mostly elderly investors out of more than $200 million. They say Durham lent money intended for private investments to family and friends and used it to fuel a lavish lifestyle. They say Durham and Cochran systematically lied and covered up the loan and financial losses of their firm, Fair Financial Co. However, Durhams's attorney John Tompkins says the charges are without merit and he intends to prove it to jurors.

The trial is set to get underway Monday morning around 8:30 am. Testimony is expected to begin late Monday morning. Tompkins says they'll wait until after prosecutors rest to determine whether Durham himself will take the stand. The trial is expected to last up to three weeks with some 49 witnesses.

MORE FROM WIBC NEWS:
» Durham's Attorney Calls for Dismissal of Charges (12-21-11)
» Durham Co-Defendent Seeks Public Defender (7-14-11)
» 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 Rep 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)
» Businessman's Art Collection to be Auctioned (10-15-10)
» Indy Businessman Faces Foreclosure on Mansion (9-17-10)
» Classic Cars Seized from Durham Property (7-1-10)
» Durham Facing Additional Financial Trouble (4-29-10)
» Investigation of Indy Financier Troubles GOP (12-12-09)
» Lawsuit Filed Against Indianapolis Businessman (12-4-09)
» US Attorney Drops Lawsuit Against Indy Businessman (11-30-09)
» Brizzi: Inappropriate to Comment on Durham Allegations (11-25-09)
» FBI Conducts Raid at Downtown Office (11-24-09)

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