The political friends of embattled Acting U.S. Attorney Timothy M. Morrison of the Southern District of Indiana are accused of looting Fair Finance Company, according to a bankruptcy trustee who filed suit to recover some of the funds last week.The Akron Beacon Journal reports:
Fair Finance was run by Timothy S. Durham, a top Rove Republican donor in Indianapolis. Morrison allowed Durham to keep his cash and assets last November after an FBI raid.Fair Finance's court-appointed trustee, Brian Bash .... believes Fair Finance was bled dry by large insider loans. ''At the time of the purchase in 2002, the debtor [Fair Finance] was a strong, viable, reputable company. By 2009, the debtor had been utterly looted through insider loans, resulting in the shutdown of the debtor's business after the FBI raid,'' the lawsuit says.
Morrison also allowed Durham's partner, James Cochran,to hold an estate sale. Cochran was recently charged with domestic violence against his wife.
Ohio residents were duped into buying investment certificates in the alleged Ponzi scheme and have lost over $200 million in the alleged fraud.
