Tim Durham

Tim Durham
Born
Timothy Shawn Durham Sr.

1962 (age 61–62)
Seymour, Indiana, US
Occupation(s)Attorney (disbarred), investor
Criminal statusInmate #60452-112; incarcerated at United States Penitentiary, McCreary; McCreary County, Kentucky; earliest possible release February 1, 2056
SpouseJoan SerVaas Durham
ChildrenTimothy Durham Jr.
Conviction(s)June 20, 2012
Criminal chargeWire fraud, securities fraud, conspiracy to defraud
Penalty50 years in prison, two years' supervised release (overturned September 4, 2014; reinstated June 26, 2015)

Timothy Shawn Durham Sr. (born 1962) is an American former lawyer and businessman convicted in 2012 of the largest corporate fraud ever investigated by the Federal Bureau of Investigation in Indiana.[1] His investment firm Obsidian Enterprises invested in a number of companies, including wireless device company BrightPoint and comedy brand National Lampoon, Inc., where Durham was CEO.[2] In 2012, Durham was sentenced to 50 years in prison in connection with a Ponzi scheme that defrauded 5,400 investors, many of them elderly, of approximately $216 million, according to the U.S. Securities and Exchange Commission.[3]

  1. ^ "Three Former Executives Charged in $200 Million Fraud Scheme Involving Fair Financial Company Investors". www.justice.gov. 2011-03-16. Retrieved 2022-07-11.
  2. ^ Mackinnon, Jim (February 18, 2011). Lawsuit says Fair Finance owner Timothy Durham 'looted' investment company. Akron Beacon Journal
  3. ^ "Tim Durham, the Madoff of the Midwest". Bloomberg.com. 2011-07-28. Retrieved 2022-07-11.