Monday, August 23, 2010

Durham Living It Up In L.A.

WISH-TV's David Barras reports on the lavish lifestyle alleged Ponzi scheme operator Tim Durham continues to live in L.A., while thousands of defrauded middle class investors in Ohio wonder if they will ever get back a dime of the money they invested in Durham's Fair Finance Company. Although Durham owns a house worth nearly $4 million in L.A., Barras shows pictures posted on a Facebook site of a baby shower held last month at another L.A. mansion Durham is leasing for $20,000 a month.


Marycatherine Barton said...

Living off the millions he 'borrowed' from so-called Fair? Are Durham's parents proud of this free-loading robber baron?

Gary R. Welsh said...

Marycatherine, I think that question is more appropriately addressed to his former father-in-law, Beurt SerVaas. Instead of just firing him from his company, he should have turned him over for prosecution after he plundered the retirement funds at Carpenter Bus while he owned it instead of simply bailing him out. Those good people of Ohio would have never become victims if SerVaas had dealt with his dishonest family member years ago.

Unknown said...

Or, if Paul Montoya of the Chicago SEC had done his fricking job years ago when he was repeatedly given black and white documentation on Durham.

Marycatherine Barton said...

Would love to hear both Montoya and SerVass explain their reaction to their boy's squandering of the 100,000,000 bucks he "borrowed" on his name, from the now looted Fair (lol) Investing.

Unknown said...

yeah, i take the money you give me to invest and give it to myself and then when I get caught tell you i 'borrowed' it. Leave checking accounts open of closed companies and continue wiring money into those accounts so I can help myself to that too, and claim I was simply a bad businessman.

Who remembers the tv interview when Timmy claimed he had factories running around the clock?

Or how about when Scott McKain used to run around the country lying that Obsidian was one of 100 fastest growing companies in the US.

Give me a break.