Morrison Helps Sink Ohio Investors

As a follow up to Wednesday's posting on the Fair Finance mess, today the news is not pretty for investors.

The Akron Beacon Journal writes:

Nine employees of Fair Finance Co. — all that remains of the Akron firm — are working out of an undisclosed location to try to resurrect the business, a company executive testified Thursday in bankruptcy proceedings. Robert Letham, vice president and director of operations, testified Thursday afternoon in U.S. Bankruptcy Court  [and] was the first Fair Finance executive to make public statements about the company's operations since federal investigators closed the company down late last year.''We are open to a degree,'' Letham said. A certified public accountant with training in fraud investigations testified that the public documents he reviewed basically showed that Fair Finance and Fair Holdings were insolvent.

Letham was not involved at all, according to the news report, with the investor certificates (allegedly a Ponzi scheme) that led to the federal raid.and collapse.

So who was?

Letham said it was his understanding that Indiana businessmen Timothy Durham and James Cochran, the co-owners of Fair Finance and its Ohio parent company, Fair Holdings, made most of the top-level decisions. Letham said he knew little about the part of the business that sold and serviced investment certificates.

Yes, that's right: the two political bedfellows of embattled Bush-appointed U.S. Timothy M. Morrison of the Southern District of Indiana!

Rove Republican Racket member Timothy S. Durham and his co-conspirator James Cochran have been running free like wild foxes. Durham, a major donor in Republican circles in Indiana, was allowed to keep his cash, luxury cars, and mansions by Morrison while Cochran was allowed to have an estate sale and keep the proceeds.

Allegations of running a Ponzi scheme, these multi-millionaires have been laughing at retirees who invested in these junk certificates and making a mockery of the judicial system, all with a little help of Morrison's do-nothing attitude.

Even in their banckruptcy pleading, they blamed the federal government and us (Internet commetators)  for their loses. Phooey!