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updated: 6/20/2012 8:00:42 AM
Durham Trial Heads to Jury
Deliberations are expected to begin today in the case of an Indiana businessman and his partners who are accused of bilking investors out of more than $200 million. Closing arguments wrapped up yesterday in the trial of Tim Durham, Jim Cochran and Rick Snow. They are facing 12 fraud-related counts.
Our partners at Network Indiana/WIBC report jurors will have to decide if the three were honest businessmen who tried to save their troubled companies, or implemented a complicated Ponzi scheme.
The defense contends the three were hit with a "perfect storm" of the 2008 economic decline, changes in securities requirements in Ohio, bad publicity and investor fears, which prompted delays in payments.
The prosecution argues the three knowingly ied to investors, Ohio state regulators and vendors.
Jurors will be sequestered if a verdict is not reached Wednesday.
Source: Inside INdiana Business, Network Indiana/WIBC
