Attorneys representing troubled financier Tim Durham fought for their client to be released from a work release facility in downtown Indianapolis Thursday. Judge Stinson denied that request.
Durham was arrested in California last month after he and two business partners were indicted on several charges involving securities fraud. Durham's ex-wife and former father-in-law posted a $1 million bond so he could be released. Durham was ordered by a California U.S. magistrate judge to set up a residence in Indiana, which his attorneys claim he has. Durham was also ordered to submit to electronic monitoring.
Wednesday, during a hearing before a federal magistrate in Indiana, Durham was sentenced to live at the Volunteers of America which is a halfway house type facility. His lawyers claimed the judge lacked authority to reconsider or review the conditions in which Durham was released on bond in California. They claimed their client has abided by all conditions of bond and they want Durham released.
Durham will remain living at the facility for several more days.