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Last updated on Wednesday, February 19, 2014
(INDIANAPOLIS) - The Geist estate that was once the symbol of the luxurious lifestyle of former Indianapolis businessman Tim Durham, now serving a 50-year sentence for operating a Ponzi scheme, is headed for a Hamilton County Sheriff’s sale.
The property, which has fallen into disrepair, was abandoned by Durham with thousands of dollars in back taxes owed. A foreclosure lawsuit was filed in 2010 by lender JPMorgan Chase.
The nearly 11,000 square foot, seven bedroom, eight bath mansion overlooking Geist Reservoir was listed for $5.5 million. JPMorgan Chase is owed about $4.5 million on the property. It will be auctioned on March 6.
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