Fair Finance trustee reaches $35M settlement with lender

May 12, 2015 9:19 PM

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The bankruptcy trustee for an Ohio company formerly run by an Indianapolis businessman convicted of defrauding investors has reached a $35 million settlement with a New York firm, clearing the way for victims to recoup some of their $205 million in losses.

The Indianapolis Business Journal reported Tuesday (http://bit.ly/1F53Uf4 ) that trustee Brian Bash had accused Fortress Credit Corp. of turning a blind eye to a Ponzi scheme that Tim Durham was convicted of running because it was making money and held first liens on the only company assets with rea...

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