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.

Wayside Furniture

NOCHE

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

Will Ohio's marijuana initiative follow casinos' lead?
We just ask to have marijuana legalized and here comes some nimrod trying to rob us of our rights and make us buy it from some legalized new type DRUG DEALER th...

Fancy dinners from humble beginnings at The Blue Door
Grandma of Chris Miller moved to Florida in a retirement community but I sure miss the Falls and the Blue Door, and the fine service and the true friendship of ...

The Black Keys guitar tech's moment in the spotlight
Nice job, Vivian. It's always nice to hear about the unsung heroes getting their due! Thank you, Chuck Johnston (Full disclosure - I'm a friend of the Carney fa...

A guide for gift-shopping for older Ohians
I'll never be to old for peanut brittle.

Akron's Tuba Christmas: A resounding blast of holiday spirit
Nice piece, Vivian! Looking forward to hearing you move from flute to tuba on Saturday. Love hearing your interviews and this seemed extra special since I kno...

Cleveland Hugo Boss workers are fighting for their jobs again
Bro. Ginard; I support your effert to keep your jobs, I understand all about concesions, I was a Union offical from 1965 until 1991 and the company th...

Asian Carp control could benefit from bill passed by House, heading to the Senate
help me fight the battle against invasive carp by method of harvest

Ohio's Portman supports lifting limits on party political money
If Portman was legitimately concerned about outside groups influence on elections he would have supported the DISCLOSE act. Instead he helped block it being bro...

Study shows trade with China has cost more than 3 million U.S. jobs
I disagree with James Dorn! If we don't change the playing field and make it a fair competition the whole US industry will be weaker and weaker. Eventually all ...

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