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Last updated on Monday, December 7, 2009
(UNDATED) - A class action lawsuit has been filed against Fair Finance, one of the firms controlled by Indiana businessman Tim Durham.
The suit comes as federal officials investigate a possible a Ponzi scheme.
It alleges Durham and another Indiana businessman, James Cochran, purchased Fair Financial in 2002 and proceeded to convince investors to pump millions into the company by misrepresenting important facts about securities.
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