News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Lehmans

Meaden & Moore


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Northeast Ohio investors in Fair Finance push for bankruptcy
They claim it's the only way to protect dwindling assets
by WKSU's TIM RUDELL


Reporter
Tim Rudell
 
The legal cloud hanging over Akron-based Fair Finance is getting thicker. Lawyers for a group of Northeast Ohio residents have filed a motion to force the company into bankruptcy.

Attorneys David Mucklow and Michael Moran of Green have asked the U.S. Bankruptcy to order Fair Finance into involuntary liquidation. They also filed an emergency motion asking for the court to appoint an interim trustee to run Fair Finance until the case is settled. Attorney David Mucklow ...

Click to Listen

Other options:
Windows Media / MP3 Download (0:20)



Federal investigators say Fair Finance loaned about one-hundred-sixty-million dollars to its owners and companies to which they had ties.  Fair Finance has been closed since the FBI seized its records November 24th amid allegations that its owners were running a Ponzi scheme.  To date, no criminal charges have been filed.
 

Listener Comments:

I am 75 years old. I have heart and lung disabilities and dependent on 24/7 oxygen.

I invested most of my retirement money in Fair Finance and I depended on the monthly interest checks to pay numerous doctor bills, prescriptiom drug co-pays and living expenses.

I am trying to remain hopeful that everything will be done to return my $200,000.00. It is very important to me to remain independant in my everyday existance.


Posted by: Beverly (Akron. Oh) on April 5, 2010 7:12AM
If you have certificates at Fair make sure you get your information to Greg Andrews of the Indianapolis Business Journal, gandrews@ibj.com, # 317-472-5378.

Also, review this awesome website filled with info and documents on Fair Finance:

http://www.fairfinanceinvestors.com

You can also send your stories to Erich at this site.

God speed to all who invested their hard earned savings. It is critical you speak up so Cochran and Durham are never allowed to do this to anyone again.


Posted by: Karl (Indianapolis) on February 16, 2010 1:29AM
I feel that the money is gone.I have two cert. one for 50,000, and 0ne for 45,000. I don't think that I will ever see any of that money.


Posted by: GILBERT (BRUNSWICK,OHIO) on February 10, 2010 8:59PM
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook





Stories with Recent Comments

Ohio's attorney general rejectsthe latest proposal to legalize marijuana
i think the ag launguage is money hes talking about drug companies must pay him more than responsible ohio can

PBS documentary chronicles the fall of Saigon through new footage and stories
Hi, Does anyone know the number - in the pbs special "Last Days of Vietnam" documentary, of how many Vietnamese were evacuated? Please e-mail me the answer. T...

Protest planned at tomorrow's FirstEnergy meeting
The problems of the poor and downtrodden have nothing to do with First Energy. They are the result of Republican legislators who consistently reduce taxes on th...

Ohio bill would help smaller communities with LGBT discrimination laws
Do we not try and have rights for all individuals equally? On the HUD list of "preferred" candidates who get "special consideration" it states that: For purp...

Ohio likely will continue with two types of police academies
Wake up people your wanting a Harvard law school education for a job that may pay a little over the poverty level. I don't know anyone who could support a wife ...

Police Week's ties from NE Ohio to D.C.
The men and women in blue who risk their lives everyday to serve and protect us....and this is as much recognition and appreciation that NPR/WKSU feels to offer...

First in a Series: How charter schools got a foothold in Ohio
If the interest where in education and there would be oversight of taxpayer dollars, charter schools would be okay. However, Charter School in Ohio are purely f...

Near West Theater raises the curtain at its new home with 'Shrek the Musical'
When I heard you were doing an article about the Near West Theater, I was very excited, because I had seen the lobby artwork in process on the floor of the arti...

Northeast Ohio pastors want to talk reform with Akron-based FirstEnergy
It's great that this First Energy bailout request is getting media coverage. First Energy is asking to be allowed to NOT find the best costing energy to sell us...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University