Events Calendar
In This Section
Community campaign collecting donations for Haiti victims
Winter storm warning downgraded to advisory
Killer talks of Kansas abortion doc's death on YouTube
Obama meets with GOP, says can spur job growth
3 acquitted in Ohio teen's restraint death
Ohio man, 63, found dead in snow with shovel nearby
Police: Man tries to buy crack with credit card
Most Read Stories
Man robbed at Tallmadge Avenue eatery
Four teens restrain man, take items from his Akron home
Another winter punch heading toward Ohio
Complaints against officer keep coming
Police: Ohio girl dies after fall into snow bank
Cuyahoga Falls residents come home to find burning couch on balcony
Police: Man tries to buy crack with credit card
Cleveland named worst U.S. city for winter weather; Columbus is No. 8
Man admits stealing TV from Akron home
Woman rescued after falling through rotting floor in house
Blogs:
First Bell - On Education:
No City of Akron basketball tonight
Pets:
Pet telethon re-airs
The Heldenfiles:
Chipmunks "Squeakquel" on DVD/BD March 30
Akron Zips:
Late surge gives Zips ugly road win
Tribe Matters:
Blogmail response on Hafner
Cleveland Browns:
Stallworth's contract terminated
Balanced Ledger:
QB in Browns future: another mock draft
Kent State Sports:
KSU Notes – February 9
Cleveland Cavaliers:
NBA Power Rankings from Around the Internet
Buckeye Blogging:
Buckeyes grab 18 players on signing day
Varsity Letters:
Garfield at Buchtel basketball
All Da King's Men:
Palin At The Tea Party Convention
Blog of Mass Destruction:
Republican Pre-Conditions
Akron Law Café:
Citizens United v. F.E.C. (Part 4): Kennedy's and O'Connor's Basic Approaches to Constitutional Decisionmaking – Top Down and Bottom Up
Car Chase:
Collector Car Hobby Loses One of the Best—Jim Roll
Let's Talk Real Estate:
Decisions Decisions: Credit Cards or Your Mortgage?
Ohio Travels with Betty:
Loucile is looking for a Lake Erie getaway in June for three kids, ages 1, 3, and 5.
Sound Check:
Talk of the Town – Top entertainment picks for the weekend
HRLite House:
Track HR Research
Akron Gamer:
Makers of 'Castle Crashers' unveil 'BattleBlock Theater'
See Jane Style:
Do IT this week: Layering
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?
