Photo: Dan Goldblatt/WFIU News
Tim Durham and his son, Tim Durham Jr. waiting for the jury to deliver a verdict. Durham was convicted of 12 counts of committing and conspiring to commit wire and securities fraud. Durham was taken into custody by federal marshals following Wednesday's verdict. He and two of his business partners are being held in the Marion County jail.
Indianapolis businessman Tim Durham and partners Jim Cochran and Rick Snow are due back in court this afternoon. They are set to appear for a detention hearing in U.S. District Court at 1 p.m.
A jury last week found the trio guilty on numerous counts of conspiracy and wire and securities fraud in connection with business practices which stole more than $200 million from 5000 investors in Indiana and Ohio.
Judge Jane Magnus-Stinson is expected to determine whether the three should remain in federal custody in the Marion County Jail pending a sentencing hearing. Prosecutors say given their convictions, they represent a flight risk.
Durham‘s attorney John Tompkins says they plan to appeal Durham‘s convictions once detention and sentencing hearings are complete.
The jury found Durham guilty on all 12 counts against him. They found Cochran guilty of eight counts and Snow guilty of five.
