The Seventh U.S. Circuit Court of Appeals overturned two of Durham's wire fraud convictions Thursday.
The jury found the financier guilty on all 12 counts of conspiracy to commit fraud, wire fraud and securities fraud.
Prosecutors say Tim Durham and his associates are flight risks and should be imprisoned until they're sentenced.
Tompkins says he and Durham discussed the possibility of a conviction before the actual verdict so Durham was somewhat prepared.
A federal jury found Durham guilty on all counts.