Events Calendar
In This Section
Nudity concerns in Colorado town prompting new rules
Boeing accelerates production of 747, 777 models
Ilgauskas back in Cleveland area
Ohio AG warns about new bogus check scams
Mentally ill Ohio inmates refuse post-prison help
When it comes to sleep, few of us are getting enough
Pain in the tank: Gas prices highest since 2008
Ohio officer who died during chase laid to rest
Obama effigy hung at Rhode Island school with fired teachers
Most Read Stories
Tallmadge man dies after motorcycle crash
Passers-by call police over topless gardener
Man on leave from Iraq war slain in Akron
Soldier on leave dies after shooting near UA
Man breaks into house, flees when owner wakes up
Slow starts might hurt Cavs' big finish
Teen accused of drinking, dancing topless in club
Quinn tells Denver his foot has healed
Woman accused of setting fire to 2 dogs
Macedonia prepares for budget cuts and layoffs
Mother: Educator abused position
Traffic light at off-ramp misplaced?
Ilgauskas back in Cleveland area
Blogs:
Akron Docs in Haiti:
Almost home
First Bell - On Education:
21st Century Skills and Akron’s new middle school
Pets:
Lost Mini Schnauzer around Cascade Valley Park
The Heldenfiles:
Fess Parker, R.I.P.
Akron Zips:
Looking back on the season
Tribe Matters:
Seven prospects reassigned to minor-league camp
Cleveland Browns:
Yates latest to re-sign
Balanced Ledger:
How times have changed?
Kent State Sports:
Kent State gears up for WNIT at Michigan
Cleveland Cavaliers:
Gameblog: Cavs at Chicago Bulls (Green Mascot and All)
Buckeye Blogging:
Bucks High Seed – Turner High Praise
Varsity Letters:
Report: Ohio offers Olack
All Da King's Men:
ObamaCare To Reduce Premiums By 3000% ?
Blog of Mass Destruction:
Pathetic GOP Nullification Attempts
Akron Law Café:
More on Shaming Corporate Criminals
Car Chase:
2010 CONCOURS SEASON IS UPON US
Let's Talk Real Estate:
Deals in Miami?!.
Sound Check:
Willie Nelson & Family coming to the Akron Civic Theatre May 11
See Jane Style:
Who Wore What – The Oscars
HRLite House:
Horses of Courses
Akron Gamer:
Video: Gamers expected to 'reach' for new 'Halo'
By Jim Mackinnon
Beacon Journal staff writer
POSTED: 12:20 p.m. EST, Nov 30, 2009
The Akron headquarters of Fair Finance Co. remained closed and empty this morning as a steady stream of worried customers drove in to try to check on their investments.
The FBI last week raided the headquarters in Akron and a related business in Indianapolis.
Investigators have been checking whether Fair Finance is able to pay its customers. The company's investments are not federally insured.
Few people wanted to talk this morning at the headquarters at 815 E. Market St.
Some gathered at the front entrance, where a sign posted in the glass door said the offices were closed due to ''unforsee circumstances.'' A sign last week in the same spot said the offices were closed for Thanksgiving week and would re-open today.
Fair Finance, which also does business as Fair Financial Services, was sold by the Fair family in 2002 to a company run by Indiana businessman Timothy S. Durham.
The Ohio Division of Securities last week said it put on hold a Fair Finance request filed in late October that the company be allowed to sell up to $250 million in new securities in Ohio. The state says Fair Finance executives needed to answer more questions about its application.
Some of the customers at the Akron offices said they had driven to other Fair Finance offices earlier in the morning only to find those closed as well.
Keith Berlin, 56, from Clinton, said he invested about $19,000 with the company. He said he had been getting a monthly interest check payment.
''We were smart enough, mainly my wife, not to put any more in there,'' he said. ''I wouldn't have a problem if the owners fell on hard times and not make a go of this.''
But if the closing is related to criminal activity, Berlin said ''they should be locked up and the keys thrown away.''
He said he hopes that no crimes have been committed. ''I hope it's something fixable and the outcome is good.''
The FBI is asking people with information or who are involved in the case to call 1-800-CALL FBI.
Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
The Akron headquarters of Fair Finance Co. remained closed and empty this morning as a steady stream of worried customers drove in to try to check on their investments.
The FBI last week raided the headquarters in Akron and a related business in Indianapolis.
Investigators have been checking whether Fair Finance is able to pay its customers. The company's investments are not federally insured.
Few people wanted to talk this morning at the headquarters at 815 E. Market St.
Some gathered at the front entrance, where a sign posted in the glass door said the offices were closed due to ''unforsee circumstances.'' A sign last week in the same spot said the offices were closed for Thanksgiving week and would re-open today.
Fair Finance, which also does business as Fair Financial Services, was sold by the Fair family in 2002 to a company run by Indiana businessman Timothy S. Durham.
The Ohio Division of Securities last week said it put on hold a Fair Finance request filed in late October that the company be allowed to sell up to $250 million in new securities in Ohio. The state says Fair Finance executives needed to answer more questions about its application.
Some of the customers at the Akron offices said they had driven to other Fair Finance offices earlier in the morning only to find those closed as well.
Keith Berlin, 56, from Clinton, said he invested about $19,000 with the company. He said he had been getting a monthly interest check payment.
''We were smart enough, mainly my wife, not to put any more in there,'' he said. ''I wouldn't have a problem if the owners fell on hard times and not make a go of this.''
But if the closing is related to criminal activity, Berlin said ''they should be locked up and the keys thrown away.''
He said he hopes that no crimes have been committed. ''I hope it's something fixable and the outcome is good.''
The FBI is asking people with information or who are involved in the case to call 1-800-CALL FBI.
Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
Comments
Click here to post your comments
Orrville, Oh
Posted 01:39 PM, 11/30/2009
Why don’t Representatives of this Representative Republic get stimulus money from Chinese, Foreign and Domestic Investors and Stockholders to prop up Timothy S. Durham?
Akron, OH
Posted 02:47 PM, 11/30/2009
Ponzi
uniontown, oh
Posted 03:13 PM, 11/30/2009
Not looking good. Another rip off on the average joe. Good luck.
Barberton, OH
Posted 05:07 PM, 11/30/2009
I think Poster is correct. From the other news sources I've read, it does appear to be a Ponzi scheme.
Norton, Oh
Posted 05:34 PM, 11/30/2009
The only way to safely double your money is to fold it in half and put it in your pocket... (unless you are on the streets of Akron)...
Green, Ohio
Posted 05:51 PM, 11/30/2009
Zapdog - That was great!
Dilidali - What is that picture of?
Loren Emberly - Not you again. You're almost as scary as the Akron Hoodies.
akron, OH
Posted 06:05 PM, 11/30/2009
Loren, we cannot comprehend what you say unless "reality demands."
Cuyahoga Falls, OH
Posted 06:05 PM, 11/30/2009
Lakesguy....I'm thinkin' Loren is sitting in subsidized housing, doing Thorazine and tapping away on a TRS-80.....whatcha think?
akron, OH
Posted 06:06 PM, 11/30/2009
Sadly, if the investors get anything back, it's likely to be over a loooooonnnng period of time, and at pennies on the dollar.
norka, OH
Posted 09:32 PM, 11/30/2009
my friend has most of his life savings in there ....Sad very very sad
akron, Oh
Posted 02:05 AM, 12/01/2009
LOL @ trash 80 comment....
akron, Oh
Posted 02:24 AM, 12/01/2009
great akrons own bernie madoff
Akron, Oh
Posted 03:15 AM, 12/01/2009
Why not ask Joe H. about all this? Oh thats right, Joe H. decided to "come out" (ha actually he was forced "out") and is now hanging out on Adams St. at one of "those" bars that just "men" "hang" out in....... right Joe?
