Federal agents seized more than 200 business computers, computer servers, filing cabinets, accounting ledgers and monthly income reports in the November 2009 raid of Akron's Fair Finance Co.No information about records seized from Durham's Indianapolis office were released. "Winfield Ong, a U.S. Assistant Attorney in the Indianapolis office, said no similar documents were released there and he did not know whether his office would release them in the future," the Beacon-Journal reported. The affidavit federal agents filed in support of its application for the search warrant also remains under seal. ''The affidavit contains substantial substantive investigative information which would greatly prejudice the criminal case in a variety of ways if it were to be made public,'' U.S. Attorney Steven M. Dettelbach, who is based in Cleveland, stated in court documents filed earlier this week.
The records, including the FBI application for the Fair Finance search warrant and a detailed list of items seized in the raid on the company's East Market Street office, were partially unsealed Tuesday in Akron by U.S. District Judge Sara Lioi.
Federal authorities from the U.S. Attorney's Office in Cleveland and Indianapolis, where the bankrupt company maintained its headquarters in the years leading up to the raids, had asked for the records to be unsealed after Fair Finance co-owners Timothy Durham and James Cochran were named earlier this month in a 12-count criminal indictment.
The indictment, also naming the company's former chief financial officer, Rick Snow, who was based in Akron, alleges that they defrauded thousands of Ohio investors out of some $208 million since Durham and Cochran bought the longtime Akron financial firm in 2002.
The Beacon-Journal notes the court action filed by it and the Indianapolis Business Journal seeking to unseal all of the records. A 2010 decision by a U.S. federal district court Judge Sarah Loi blocking the unsealing of the documents is currently on appeal before the 6th Circuit Court of Appeals in Cincinnati.