INDIANAPOLIS, Ind. (September 4, 2014)– An appeals court has overturned two of ten convictions for a man convicted of wire fraud in 2012.
Tim Durham was convicted of 10 counts of wire fraud, securities fraud and conspiracy two years ago. Authorities say he stole $200 million from thousands of victims at Fair Finance in a Ponzi scheme.
The judge originally sentenced Durham to 50 years in prison. The appeals court says he will need to be resentenced as a result of this ruling.
The U.S. Court of Appeals in Chicago failed to enter key documentary evidence into the trial record that supported two counts of wire fraud against Durham. Because of this, the court reversed the two convictions.