Convicted businessman's home faces sheriff's sale

Published:

INDIANAPOLIS (AP) -- The home of a former Indianapolis businessman convicted of defrauding investors in an Ohio company of $200 million is headed to a sheriff's sale.

WISH-TV reported Tuesday (http://bit.ly/1m72Z3O ) the suburban Indianapolis home was abandoned by Tim Durham with thousands of dollars in back taxes owed in Hamilton County.

The nearly 11,000-square-foot home with seven bedrooms and eight bathrooms and overlooking Geist Reservoir had been listed for sale for $5.5 million. A foreclosure lawsuit was filed in 2010 by lender JPMorgan Chase, which is owed about $4.5 million.

Durham was sentenced to 50 years in prison in 2012 after a federal jury convicted him of securities fraud, conspiracy and 10 counts of wire fraud for operating a Ponzi scheme with Akron, Ohio-based Fair Finance.

___

Information from: WISH-TV, http://www.wishtv.com/