The bankruptcy trustee seeking to recover millions of dollars for victims of Indianapolis businessman Tim Durham’s Ponzi scheme has come up empty in a nearly decade-long lawsuit against a deep-pocketed lender he alleged was culpable in the fraud.
A high-stakes lawsuit goes to trial Monday that could represent the last, best hope for victims of Indianapolis businessman Tim Durham’s Ponzi scheme to recoup a sizable recovery on their more than $200 million in losses.
A federal judge on Friday ordered convicted Ponzi schemer Tim Durham to pay $1.3 million after siding with the Securities and Exchange Commission in a six-year-old lawsuit alleging massive securities fraud.