Tim Durham: Talent, Greed & A Life Wasted

TIM DURHAM HEADING TO COURT 

Tim Durham was once a bright guy with a promising career ahead in both law and business.  But he will spend the next 20 years or more in Federal prison.

Yesterday he was convicted of fraud in stealing $200 million from investors. It wasn't all that intricate a plot. With money and credit from other business ventures, Durham and a business associate, James Cochran (also convicted), bought Fair Financial in 2002. 

ONE OF DURHAM'S "TOYS"

Fair Financial was a well-established company with a history of providing safe investments and a solid, if not spectacular, return to its investors. 


But Durham had other plans.  He turned the company, and the life savings of 5,000 investors, into his personal piggy bank.  He funded a lavish life style -- renting the top floor of the tallest building in Indianapolis, homes in L.A. and Miami, a commissioned portrait, yachts, a world-class collection of collector cars, including a Bugatti & Duessenburg, a $160,000 Playboy party.

Along the way, he distributed his money to make powerful friends in Republican politics.  Carl Brizzi and Gov. Mitch Daniels were among those receiving the most lavish largess from Durham's funds.

It was a life based on toys.  Whoever dies with the most wins.  No concern for the investors, who put the money scrimped from a lifetime of work into Durham's greedy hands. 

No morality.  No honor.  Just insatiable greed.

TIM DURHAM & HIS MULTI-IMAGE PORTRAIT

Reflecting back to the early 1980s, I was at a young lawyer at the big Indianapolis firm of Ice Miller. During that same time, there were four others coming out of law school. Top of their class credentials and the world waiting before them.  

 Tim Durham, Myra Selby, Bart Peterson & Joe Hogsett, Three associates & one summer associate (Joe took a position at Bingham Summers out of law school).

Bart became mayor of Indianapolis. 

Myra became the state's 1st (and only) woman & 1st African-American Justice of the Indiana Supreme Court. 

U.S. ATTORNEY JOE HOGSETT (at lectern)

Joe became Ind Secy of State, a US Senate candidate, and now US Attorney. 

 And Tim Durham, his greed unchecked, his desire for parties & fancy cars insatiable, will spend at least the next 20 years in federal prison. 

His prosecutor - Joe Hogsett

What a long strange trip its been.