A federal appeals court has rejected a former Indianapolis businessman's bid to shorten his 50-year sentence for defrauding investors of $200 million.
The 7th U.S. Circuit Court of Appeals affirmed Tim Durham's sentence Wednesday. The court found it had already rejected Durham's earlier challenge to a calculation of losses due to his fraud that factored in his sentence.
Tim Durham timeline
Durham was convicted in 2012 of securities fraud, conspiracy and 10 counts of wire fraud for operating a Ponzi scheme that defrauded thousands of investors in his Akron, Ohio-based company, Fair Finance.
A federal judge re-imposed his original 50-year sentence after the 7th Circuit overturned two wire fraud counts.
Durham appealed again, seeking a second resentencing.
His attorney did not immediately return a message Thursday seeking comment.
Read the court ruling here.
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