INDIANAPOLIS (AP): A former Indianapolis businessman convicted of defrauding investors in an Ohio company of $200 million last year says jurors at his trial should not have heard wiretapped conversations.
The Indianapolis Business Journal reports attorneys for Tim Durham and co-defendants Jim Cochran and Rick Snow have filed a brief with the 7th Circuit Court of Appeals in Chicago arguing that investigators shouldn't have been allowed to conduct wiretaps without first showing that ordinary investigative techniques wouldn't work.
More than 5,000 Ohio residents purchased unsecured investment certificates from Akron, Ohio-based Fair Finance touting high interest rates. Prosecutors say Durham used that money to prop up other failing businesses and finance a lavish lifestyle.
Durham was sentenced to 50 years. Cochran is serving 25 years, and Snow 10.