Updated: Tuesday, 09 Nov 2010, 6:49 PM EST
Published : Tuesday, 09 Nov 2010, 6:49 PM EST
LOS ANGELES (WISH) - An I-Team 8 investigation has uncovered that embattled Indianapolis businessman Tim Durham’s Los Angeles mansion is for sale.
Durham bought the mansion for about $3.8 million in 2005. The home is now listed at $2.8 million.
The mansion features three bedroom suites and a 30-foot waterfall.
24-Hour News 8 Anchor David Barras spoke with the listing agent Tuesday and he said he had no idea that Durham's dealings are being investigated by the FBI.
Thousands of investors in financial instruments sold by Durham’s company, Fair Finance, lost more than $200 million combined. Once the agent found out, he put the listing on hold.
But the attorney for the trustee trying to get some money back for the Fair Finance investors told 24-Hour News 8 Durham can sell the property. She says she has spoken with the listing agent and it will likely be relisted soon.
Selling that house won't net much for investors in Durham's failed Fair Finance. The home has a $2.5 million lien. Investors only get what's left after the lien and other fees are paid.