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Courts and Crime


Judge to hold hearing for convicted owner of Akron-based finance company
A presentence report suggested Tim Durham serve 225 years in prison 
by WKSU's OZIE IKUENOBE

Reporter
Ozie Ikuenobe
 

A judge will hold a hearing next week to determine how much time the owner of an Akron-based finance company should serve in prison.

Tim Durham, owner of Fair Finance, was convicted by an Indianapolis jury of stealing more than $200 million dollars from investors to buy mansions, classic cars and other luxury items. He is scheduled to be sentenced on Nov. 30

His attorney is protesting a presentence report that recommends Durham serve 225 years in prison and pay $209 million-dollars in restitution.

Greg Andrews, managing editor for the Indianapolis Business Journal, says Durham’s attorney is arguing the sentence doesn’t fit the crime.

Andrews on Fair Finance

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“Clearly the thinking of the probation staff who put that together—the report—was that, that was roughly the amount that investors in Fair Finance lost. So you can understand the rationale for how they came up with the figure.  But the attorney for Durham, John Tompkins, contends that there were various, somewhat complicated factors that should reduce the amount that he would have to repay.”

Tompkins has argued that the federal raid on Fair Finance in 2009 and the poor economy caused the company to collapse, not his client’s spending.

Durham’s two partners were also convicted of stealing from Fair Finance.  

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