More Durham Cars Seized

Aerial images from WISH-TV's Chopper 8 show more luxury automobiles being seized by the FBI at the large Geist estate of alleged Ponzi scheme operator Tim Durham this afternoon. The cars were removed from Durham's 30-car garage on the estate grounds. WISH-TV reports that Durham voluntarily relinquished control of the vehicles to the FBI, which began confiscating luxury automobiles from him last week. The sales proceeds from the vehicles will be turned over to the bankruptcy trustee for Fair Finance Company, the Durham-owned business in Ohio that took investors for as much as $200 million, largely as a result of loans Durham took out for other businesses he operated here in Indianapolis and elsewhere and did not repay to the Ohio company.

Has a grand jury finally been convened to consider criminal charges against Durham? An informed source tells me a number of subpoenas have been issued recently requesting testimony from witnesses. Stay tuned.