Durham Lawyers Begin Defense Case Tuesday

Federal prosecutors wrapped up their case Monday against a prominent Indianapolis businessman accused of stealing $200 million from Ohio and Indiana investors.

Indianapolis Federal Courthouse

Photo: Kenneth Hagemeyer / Flickr

Jury deliberations could begin at midweek.

The government rested its case against Tim Durham and his partners on Monday and defense lawyers were expected to begin making their case today.  Before resting, prosecutors called Ohio investors Donald Russell and David Spector, who say they each lost hundreds of thousands of dollars.

Durham and partners Jim Cochran and Rick Snow are charged with conspiracy, wire and securities fraud.  Much of the correspondence entered into evidence involves the trio discussing the transferring of tens of millions of dollars between Durham‘s companies, Fair Holdings, DCI Investments and Obsidian Enterprises.

Prosecutors are trying to convince jurors that Durham and partners financed luxury lifestyles that included expensive homes, fancy cars and lavish parties with investor money. Prosecutors also played phone calls between Durham and partners discussing creative ways to explain their financial records for curious Ohio securities regulators.

The jury will likely get instructions late Tuesday and begin deliberating Wednesday. Judge Jane Magnus-Stinson has told jurors they‘ll be sequestered if deliberations run past Wednesday.

Network Indiana

Network Indiana Indiana's Only Audio News Network. Network Indiana is dedicated to providing the state of Indiana important and useful information.

View all posts by this author »

What is RSS? RSS makes it possible to subscribe to a website's updates instead of visiting it by delivering new posts to your RSS reader automatically. Choose to receive some or all of the updates from Indiana Public Media News:

Support For Indiana Public Media Comes From

Search News

Stay Connected

RSS e-mail itunes Facebook Twitter Flickr YouTube

Follow us on Twitter

What is RSS? RSS makes it possible to subscribe to a website's updates instead of visiting it by delivering new posts to your RSS reader automatically. Choose to receive some or all of the updates from Indiana Public Media News:

Recent Stories

Recent Videos

Find Us on Facebook