Monday, November 26, 2012

Durham's Attorney Seeks 5-Year Sentence

Not surprisingly, the attorney for convicted Ponzi schemer Tim Durham would like Judge Jane Magnus-Stinson to mete out a much lighter sentence than the 225-year prison sentence recommended in a federal sentencing report. A sentencing hearing has been scheduled this Friday in Judge Magnus-Stinson's court for Durham and two business associates convicted along with him, James Cochran and Rick Snow. Durham's attorney, John Tompkins, is seeking a three-year prison sentence, followed by two years of home confinement. "There is no need to incapacitate Mr. Durham beyond [five years] to prevent him from committing further crimes, given his extraordinarily low risk of recidivism, or to deter others from similar conduct," the filing said. “In this case, there is absolutely zero evidence that Mr. Durham subjectively intended any investor to experience a loss, and that’s what the law requires if ‘intended loss’ is to be used for the sentencing calculation,” Tompkins said. I'm guessing that the thousands of small Ohio investors in Fair Finance who collectively lost more than $200 million would take issue with Tompkins' characterization of his client's intent. My prediction is that Judge Magnus-Stinson will sentence Durham to a 30-year prison sentence, a sentence he should be happy to receive given the unusually lengthy sentences a number of other federal court judges have meted out in recent years to high-profile Ponzi schemers.


M Theory said...

Upon his indictment, I predicted that one should not steal from the Amish and expect it to end well.

I stand by it. There is no way the judge is going to give him 5 years for what he has done to so many families.

They need to make sure, like Madoff, he never gets out.

Maybe they should give him 5 years for every individual person's life he screwed out of a secure financial future so he could use their savings to splurge on egocentric art, lingerie models, exotic cars, geist mansion, yacht, and paid celebrity "friends" and politicians.

Maybe his "friends" will visit him in prison.

Jon said...

I agree, give hiem 5 years times 45.

SW Lane said...

Maybe he can have the Manning brothers and that pants-load Brizzi lobby for his freedom.

Anne said...

Or maybe, an Airline Attorney could help him on this.