Last week, I wrote about Tim Durham's partner at Fair Finance, Jim Cochran, liquidating his belongings at his Naples, Florida home. I speculated that Durham could do the same thing.
I think he is.
Let me give you a disclaimer. I don't know the VIN numbers of the vehicles you're about to see, so I could be wrong. But look at the car over Durham's right shoulder here:
That's a 1908 Cadillac. Now look at this auto listed with RM Auctions in Phoenix, Arizona for sale on January 21, 2010:
"Oh, Chris, that could be a coincidence," you say. Sure it could. After all, there were 2,377 of these made in 1908, and I'm sure all 2,377 are in immaculate shape, just like in these photos, I respond sarcastically.
Did I mention that Durham has had at least four of his cars refurbished by RM, which featured Durham (p. 40) in its magazine?
There are a couple other vehicles fitting descriptions of Durham's collection, and they're all selling under "no reserve," which means whatever the high bid is, that's what the seller takes.
You know who sells with "no reserve?" People who do not care about their properties or people who are desperate.
From the RM article:
"Sales from [Durham's] collection have led to regret in the past, likely another reason Tim does not sell his cars easily."
Sounds like he seldom parts with a car, so I'll select door two. How more desperate can you be than having the FBI browsing through your file cabinets while you're being sued and put on the front page of the paper almost daily?
I cherish our bedrock principle that every man is innocent until proven guilty, but, unfortunately for Tim, I can also add. This will not end well for the investors. My heart goes out to them because they're about to see hundreds of thousands of dollars (and probably their best source for recovering funds) transferred to several prestigious law firms in the form of retainers.
Think of the tragic irony. A man can use ill-gotten gains to afford the best legal talent necessary to prove they weren't. Sigh. This country has two systems of justice. One for people who rob you with a knife for $20, and one for people who rob you for millions with misleading contracts and bogus spreadsheets.
In my mind, though, a "white collar" criminal is just a man who knows not only that the pen is mightier than the sword, but also that it usually comes with fewer years.
