7:08 PM EST, November 27, 2012
INDIANAPOLIS (AP) — A federal prosecutor calls an Indianapolis financier convicted of swindling investors out of about $200 million one of "the greediest, most selfish and remorseless of criminals" and wants life sentences for him and two co-conspirators.
U.S. Attorney Joseph Hogsett in a sentencing memorandum filed late Monday in federal court in Indianapolis says Tim Durham, James Cochran and Rick Snow haven't "shown the slightest bit of remorse for their actions."
The three face sentencing Friday on fraud and conspiracy convictions.
Prosecutors have said they stripped Akron, Ohio-based Fair Finance of its assets and used the money to buy mansions, classic cars and other luxury items and to keep another Durham company afloat.
Durham's attorney has asked that he be sentenced to three years in prison and two years home detention.
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