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.

Akron Children's Hospital

Knight Foundation


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

What the U.S. Supreme Court ruling means for early voting
r.gov trying to slow down voters to stop the people from voting out the r. govener

Cleveland Orchestra heads home from Europe
So proud to be a lifetime Clevelander! Yes, our Orchestra is the best ambassador a city could hope for! My wife and I happened to hear the European Festival T...

Northeast Ohio undocumented immigrants praying for a miracle
Stop it, just stop it. They are not undocumented but illegal aliens. I live in a 'sanctuary' city and it's not pretty. Dahlberg is a notorious trouble maker in ...

Ohio survey shows low-income people are choosing phones over food
Where is this study published? no sign of it on google scholar. is there a cite

The Akron Sound rocks the porches
fabulous group interview! you covered so much in so little time. wish i could be there for porch rockr.

Head of Ohio Dems says Kasich administration is lying about Suarez contacts
when Kasich's mouth is open , he's lying. Look what he did at Lehmans brothers and then lied about it all during the campaign. If a GOP didn't lie, he or she ...

Canton's Basilica of St. John absorbs news of the pope at morning Mass
Hello Chris,Marina,and Patrice, I just read this article and you all look great. I'm on facebook Jean Dutcher in blue and white stripped blouse. I"M so glad to ...

Exploradio: Avoiding the 'acting-white' trap
Growing-up black and being black should not determine that you will not speak well or will not be a high achiever in your goals in life.But society te nds to la...

Charter-school supporters to rally at Statehouse
I am on the bus now headed to the rally. Horizon is an excellent school. My son is is 7 th grade. The teachers and administrators are top notch and spend so m...

Former Nursing Home Land Added to Parks
In addition, LED technology also plays a very important role in advertising- LED placard is very, very useful for shop owners.

Copyright © 2014 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