Troubled financier Tim Durham was released on a $1 million bond Monday. The family that put the money up for Durham explained why in a released statement Tuesday.
Durham's ex-wife, Joan Servaas, and her father, former city councilman Beurt Servaas, signed the surety bond Saying they won't be out any money unless Durham doesn't show up for his court hearing. They said they expect him to completely cooperate in the process.
"I want to say how sorry my father and I are for those who have lost their savings, investments and jobs as a result of the failure of Fair Finance. Tim and I have long been divorced, but as the father of our 20-year-old son, he will always be part of our family," Joan wrote in the statement.
Durham must be back in the state by April 4. He has agreed to be on home detention while living here.