INDIANAPOLIS — A federal judge has ordered an Indiana financier and a business partner jailed until they are sentenced for swindling investors out of $200 million.
Judge Jane Magnus Stinson said Monday that former GOP donor Tim Durham and partner James F. Cochran were flight risks.
A federal jury in Indianapolis last week convicted Durham of securities fraud, conspiracy and 10 counts of wire fraud. Cochran and accountant Rick D. Snow also were convicted of conspiracy and securities fraud, and some wire fraud counts. They could face decades in prison.
Magnus Stinson ordered Snow released on home detention and electronic monitoring.
The men were charged with raiding Akron, Ohio-based Fair Finance for personal use and conspiring to hide the consumer finance company's depleted condition from investors.
All three men say they'll appeal.