Tuesday, February 15, 2011

A Fraud of Shocking Proportions

"Fair Finance Co.’s bankruptcy trustee on Tuesday [14 February] filed a lawsuit alleging that Tim Durham perpetrated “a fraud of shocking proportions,” draining huge sums from the Akron, Ohio, firm for years to mask that his business empire had collapsed," reports IBJ.com.

"By the time Durham and fellow Indianapolis businessman Jim Cochran bought Fair in 2002, his Indianapolis-based buyout firm—Obsidian Enterprises Inc.—already was effectively bankrupt, the suit says."

Read the rest here.

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