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updated: 3/28/2014 7:49 AM

Ex-Indiana financier found at fault in Duesenberg sale

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Associated Press

FORT WAYNE, Ind. -- A former Indianapolis financier in federal prison for a $200 million investment fraud has been ordered to pay $1 million over the disputed auction of a 1930 Duesenberg automobile.

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A federal judge ruled Timothy Durham owes that money to a Michigan couple from thecar's 2009 auction at the Auburn Cord Duesenberg Automobile Museum.

The Journal Gazette reports the judge found that Durham was involved in rigging the auction. A Virginia man bought the Duesenberg for $3 million but he never received its title.

The judge ruled Durham owed $1 million from the sale to Donald and Joan Lyons of Dowagiac, Mich. The couple and others have paid more than $2 million to the Virginia man.

Durham was sentenced in 2012 to 50 years in prison on fraud convictions.

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