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5-year term sought for convicted Indiana financier
Updated: Monday, 26 Nov 2012, 2:33 PM EST
Published : Monday, 26 Nov 2012, 2:33 PM EST
INDIANAPOLIS (AP) - The attorney for an Indianapolis financier convicted of swindling about $200 million from investors said he'll ask a judge to sentence his client to only five years in prison, but a probation report recommends a maximum sentence of 225 years.
Timothy Durham is due to be sentenced Friday on his June convictions for securities fraud, conspiracy and 10 counts of wire fraud in U.S. District Court in Indianapolis.
Durham attorney John Tompkins told The Indianapolis Star for a story Monday that the defense believes a five-year sentence is well supported by the law. Tompkins has argued the government caused the collapse of Durham-led, Ohio-based Fair Finance by ruining its reputation.
A report prepared by U.S. probation employees recommends Durham receive a maximum sentence of 225 years.
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