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Federal Government Drops Lawsuit Against Indy Businessman

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.

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