FISHERS, Ind. (WISH) - The Geist area home of troubled Indianapolis businessman TimDurham is on the market, but it turns out it's a secret sale thatthose involved would rather the public didn't know about.
The asking price: $5.5 million. The home is listed as"confidential" on the MIBOR website.
In late February, 24-Hour News 8 cameras captured two Atlasmoving trucks in the driveway of the home located in the 14000block of East 113th Street, but a local realtor said the house wasnot listed for sale at the time.
Finding the home on the MIBOR website is no easy task. Usually,you can find a listing on the MIBOR website by just putting in theaddress of the home. But that won't work for Durham’shome.
A source gave the information to 24-Hour News 8’s DavidBarras. The same source calls the $5.5 million asking price "crazy"in this market.
The listing on the MIBOR website describes the home asfollows:
"Car collectors dream home ideally situated on a gated 5-acreGeist Estate lot. 30 car garage is perfect venue in which toentertain, offering a service kitchen, multiple Wet Bars, HomeTheater, & room to mingle. Enjoy outdoor living on multi-levelDecks overlooking resort-style Pool & Waterfront setting.Professionally landscaped grounds provide ample privacy. Main-lvlMstr Retreat offers private sitting Rm & 2 WIC's. 4th levelsuite is ideal as Nanny or Guest Rm. All bedrooms have privatebath. Confidential."
The listing includes several pictures of the home from theoutside but none from the inside.
Meanwhile, Durham's Ohio company, Fair Finance, is beinginvestigated as a Ponzi scheme. The Durham investment scandal hasincluded an FBI raid on his downtown office, the aforementionedmoving vans at his Geist home and investors out millions ofbucks.
Durham owes at least $50,000 in back taxes on the Geist home andan I-Team 8 Investigation in March found that the home has amortgage of $3.5 million and a line of credit up to a $1.5million.
The new developments raise a lot of new questions. Durham's FairFinance is in bankruptcy and being liquidated by a trustee in Ohio.24-Hour News 8 called the trustee Friday to find out if the sale iseven legal, but he wasn't available.
24-Hour News 8 also called the Ohio Department of Securities andthe listing agent on the house and wasn't able to make contact withany of them.
24-Hour News 8 will continue following the story and digging upnew information.
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