NEW CASTLE, Ind. (WISH) - A woman in New Castle says she never invested in Fair Finance, but said she and others are victims of Tim Durham's financial scheme.
Tim Durham opened a restaurant in New Castle in the Summer of 2008. That restaurant employed about 20 locals, but when the restaurant abruptly closed last year, many of those employees found themselves like those investors: Out of money. She said Durham's arrest on Wednesday was no surprise.
"I was beginning to wonder whether this day would ever come about, and I'm glad to see that it has," said Julie Rinehart, of New Castle.
Rinehart worked at Durham's New Castle restaurant.
"I started out just as a server and then became the front-end manager," she said.
In August, 24-Hour News 8 told the story of Rinehart and 19 of her co-workers who camped out outside the restaurant. Back then, they were looking for answers about why the business abruptly closed.
"Everyone is owed two weeks pay and some vacation checks," former employee Rosie Shake said.
"We all had families to support; we put our time and effort and put everything that we had to give into that place and we didn't get back really what was coming to us," Rinehart said.
Rinehart said they never got paid. They may not ever be.
24-Hour News 8 learned a Henry County Circuit Court judge issued a decree of foreclosure against Durham after he defaulted on the mortgage for the restaurant. The restaurant is now part of a sheriff's sale. The Henry County Sheriff said he's just waiting on the foreclosure paperwork to be processed. Once sold, he believes the money will go to a bank, not the former employees.
Rinehart said she's fortunate she's able to work. It's Durham's investors she feels sorry for.
"Obviously, we didn't get paid our last couple of checks, but even more importantly, all those people that invested their life savings, those are the people I feel the worst for."
Sherriff Baker said it could be about four weeks before the property is offered in a property sale.
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