Down to final witness in Durham trial

INDIANAPOLIS (WISH) - The prosecution in the federal fraud trial of Indianapolis businessman Tim Durham is down to its final witness. The defense is expected to begin it's case Tuesday.

After a week of witnesses by the prosecution, the defense is expected to offer only a day or two of testimony in response. But their mission is clear.

Attorneys for Tim Durham, James Cochran and Rick Snow will try and convince the jury that the three made bad business decisions, but did not commit fraud.

That won't be easy after a week of testimony and evidence outlining allegations that the three used Akron Ohio Based Fair Finance as their personal piggy bank to fund a lavish lifestyle.

Evidence like this wiretapped phone conversation obtained by 24 Hour News 8 from November 2009 where Durham tells Cochran to find a way to keep a fair finance investor from cashing in his investment certificate.

Said Durham to Cochran, "I'm not going to make that call. But if you can push anybody push him. Use the same reason you used yesterday with the other guy. But don't use the explanation too often, because it's not really true."

The defense will also try and show that the the 5,000 investors who lost more than $200 million were warned in the Fair Finance prospectus that the investments were risky.

The prosecution maintains, Durham and the other defendants did not disclose the true financial shape of Fair while selling the investment certificates.

Attorneys for both Cochran and Snow asked the judge to acquit their clients because of lack of evidence. That's not unusual in criminal cases.

The judge denied the request. Durham's attorney told 24 Hour News 8, he still anticipates closing arguments Wednesday morning, with the jury getting the case Wednesday afternoon.