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Last updated on Wednesday, June 20, 2012
(INDIANAPOLIS) - A federal jury will decide whether an Indianapolis businessman and his partners raided an Ohio-based finance company after they bought it, bilking thousands of mostly elderly investors out of more than $200 million.
Jurors are scheduled to begin deliberations Wednesday morning in the fraud trial of Tim Durham, his business partner and his accountant.
Durham, originally from Seymour, served for a time as president of the former Carpenter bus manufacturing facility in Mitchell. He worked in Mitchell from 1992-1995.
Deputy U.S. Attorney Winfield Ong says the evidence shows that Durham and his partners raided Fair Finance to enrich themselves and their friends and to prop up Durham's other struggling businesses.
But Durham's defense attorney insists the men simply made bad business decisions in the midst of the bewildering economic crisis of 2008. Attorney John Tompkins says prosecutors presented isolated facts to make it appear that Durham was guilty of fraud when no fraud actually occurred.
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