Brought to you by WBIW News and Network Indiana
Last updated on Tuesday, December 1, 2009
(INDIANAPOLIS, IN) - The federal government has dropped a civil lawsuit against an embattled Indianapolis businessman.
US Attorney Tim Morrison filed papers Monday to dismiss the lawsuit against Tim Durham, who is accused of operating a ponzi scheme.
Morrison says the decision came after he was assured Durham will not try to hide or sell his assets, which include a 30,000 square foot mansion on Geist Reservoir and a $1.8 million dollar Bugatti Sportscar.
Federal investigators accuse Durham of running the scheme that defrauded investors of Ohio-based Fair Financial.
The 47-year-old also runs Obsidian Enterprises located in downtown Indianapolis.
Durham has not been arrested or charged with any crimes, but the investigation is ongoing.
1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at comments@wbiw.com
© Ad-Venture Media, Inc. All Rights Reserved.