Local News

Ex-financier Found at Fault in Duesenberg Sale

FORT WAYNE, Ind. (AP): A former Indianapolis financier in federal prison for a $200 million investment fraud has been ordered to pay $1 million over the disputed auction of a 1930 Duesenberg automobile.
 
       A federal judge ruled Timothy Durham owes that money to a Michigan couple from car's 2009 auction at the Auburn Cord Duesenberg Automobile Museum.
 
       The Journal Gazette reports the judge found that Durham was involved in rigging the auction. A Virginia man bought the Duesenberg for $3 million but he never received its title.
 
       The judge ruled Durham owned $1 million from the sale to Donald and Joan Lyons of Dowagiac, Mich. The couple and others have paid more than $2 million to the Virginia man.
 
       Durham was sentenced in 2012 to 50 years in prison on fraud convictions.

Related posts

Indiana Receives Low Rating For Cybercrime

Network Indiana

Allen County SPCA seeks $15,000 match for #GivingTuesday

Brooklyne Beatty

Undercover Drug Bust Leads to One Arrest

Kylie Havens