Tuesday, November 09, 2010
Former Owner Of Fair Finance Calls Tim Durham A Thief
WISH-TV's Brad Edwards scores big with an exclusive interview with Donald Fair, the man whose father founder Fair Finance Company and who sold the company to Tim Durham and his business partner, James Cochran, in 2001. Edwards contrasts the modest lifestyle of the 85-year-old Fair to the extravagant playboy lifestyle of Durham. Fair tells Edwards he grew concerned when he saw from disclosure statements Durham was loaning a considerable amount of Fair Finance's money to himself. He said his lawyer cautioned him to remain silent. He was less restrained during his interview with Edwards, calling Durham a thief at one point. The crushing impact of Fair Finance's downfall on Fair did not compare to the impact it had on the family of investor Don Russell, whose entire family lost their life savings. Russell's mother became overwrought after learning of the FBI raid on the company that had been in business since 1934. She checked herself into a hospital the same day she learned of the company's fate and died two days before Christmas last year. Nearly a year later, no criminal charges have been brought against Durham or Cochran. As the investors of Fair Finance pick up the pieces, WISH-TV's continuing series this week will show how Durham continues to live it up out in Los Angeles in a swanky home fit for a movie star.