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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 ...

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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
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