By: Joe Strupp
The Indianapolis Star and The Akron (Ohio) Beacon Journal are seeking access to sealed federal search warrants related to the raid of two businesses led by an Indianapolis businessman, the Star reported.
The papers filed joint motions Thursday in federal district courts in Indianapolis and Akron, Ohio. Each argues the public has a right to know what federal investigators sought Nov. 24 when they raided the offices of Obsidian Enterprises in Indianapolis and Fair Financial in Akron, the story reported.
Federal authorities have said in one court document that they suspect businessman Timothy Durham of running a Ponzi scheme and defrauding investors.
Durham, through his attorney, has denied any wrongdoing, the Star reported. He has not been charged with a crime.
The newspapers’ motion says: “The overriding public interest in recovering millions of dollars in investments for thousands of investors, as well as the overriding public interest in the integrity of the political system in which one influential person may have destroyed thousands of retirement dreams, require that all documents issued in connection with Fair Finance and Timothy S. Durham be public,” the Star reported.