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Convicted Indiana financier to ask for 5-year prison term

– The attorney for an Indianapolis financier convicted of swindling investors out of about $200 million will ask for a five-year sentence for his client.

Timothy Durham is due to be sentenced Friday in U.S. District Court in Indianapolis. He was convicted in June for securities fraud, conspiracy and 10 counts of wire fraud.

“We believe that (five years) is well-supported by the law,” Durham’s attorney John Tompkins told The Indianapolis Star. Tompkins argued that Durham deserves a shorter sentence because “the seriousness of Mr. Durham’s offenses is substantially overstated.”

Last month, Tompkins protested a report prepared by U.S. probation employees recommending a maximum sentence of 225 years in prison. He argued the government caused the collapse of the Durham-led Fair Finance by ruining its reputation.