News From Terre Haute, Indiana

Local & Bistate

May 15, 2012

Feds say wiretaps show evidence of financial plot

INDIANAPOLIS — A federal judge has declined to throw out wiretap evidence against a former Indianapolis businessman charged in a $200 million fraud case.

Judge Jane Magnus-Stinson on Monday denied Tim Durham’s motion to suppress evidence, rejecting his arguments that the FBI had failed to show probable cause before obtaining permission for the wiretaps.

Prosecutors say wiretap transcripts show how Durham and his business partners discussed ways to hide from investors the fact that Akron, Ohio-based Fair Finance was running out of money in 2009.

Defense attorney John Tompkins tells The Indianapolis Star that the transcripts released by prosecutors are misleading. He says the FBI recorded more than 1,800 phone conversations but filed transcripts of only 19.

Durham’s trial is scheduled to start June 8.

 

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