Updated: Tuesday, 09 Nov 2010, 11:37 PM EST
Published : Tuesday, 09 Nov 2010, 11:37 PM EST
LOS ANGELES (WISH) - While more than 5,000 investors are fighting to recover pennies on the $200 million dollars lost to Indianapolis businessman Tim Durham's Fair Finance company, Durham is in Los Angeles.
In Beverly Hills, common sights are Tiffany, Gucci, Fendi, Chanel and Rodeo Drive. It is a place for high-end shopping and people with money. It is where Durham is living now.
Durham rents a house in the Hollywood Hills. He pays somewhere between $20,000 and $25,000 per month in rent, according to a real estate agent. He doesn't own it, he just lives there.
Back behind the bushes and the gates and all the security, it is a home where looks are deceiving. It appears modest on the outside, but inside there are eight bedrooms, 13 bathrooms and 15,000 square feet of luxury overlooking Sunset Strip, one of the most famous streets in Los Angeles. The home was listed for sale at just less than $8 million before Durham rented it.
It is the place Durham landed after he quit paying on his $3.5 million, 5-acre Geist estate with a 30-car garage. That home is now in foreclosure. Hamilton County records show he owes more than $60,000 in unpaid back taxes. He owes another $60,000 on a Carmel Medical Building and $20,000 in unpaid taxes on his downtown Indy auto dealership, Diamond Motors, where he stored millions of dollars worth of his cars until the FBI took them away.
All that now is in Durham's rearview as he lives it up in LA.
Members of the 24-Hour News 8 team have reached out to Durham several times over the past year trying to get his side of the story. Finally, Durham responded via e-mail.
"When I am ready, I will definitely tell my side,” Durham said in an e-mail. “As I am sure you understand, most of what has been printed and broadcast is completely one-sided and misconstrued against me.”
For the full report from Los Angeles, click the play button on the video player above.
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