Tim Durham tries to get out of jail early
INDIANAPOLIS — The Indianapolis financier convicted of wire fraud, securities fraud and conspiracy hopes to convince a judge to release him early from federal prison.
Tim Durham, dubbed the Madoff of the Midwest, was sentenced to 50 years in prison in 2012 after a jury found him guilty of defrauding investors out of more than $200 million in a Ponzi scheme.
Durham and his business partner, Jim Cochran, used money invested in their business, Fair Finance, to fund a lavish lifestyle that included expensive homes, fancy cars and expensive parties. Prosecutors said Durham’s other business partner, Rick Snow, helped cover their trail.
Durham claims his legal team let him down during his trial in 2012 and did not do a good enough job of defending him, failing to investigate or subpoena necessary witnesses, among other reasons.
While he was originally convicted on 12 counts, two counts of wire fraud were overturned in 2014 because the United States Court of Appeals in Chicago failed to introduce documentary evidence. key in the trial file.
Durham will represent himself in a four-day trial which begins on Tuesday.
The Durham co-conspirators, Cochran and Snow, were sentenced to 25 and 10 years respectively.
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