INDIANAPOLIS (WISH) – The Geist estate that was once the symbol of the luxurious lifestyle of former Indianapolis businessman Tim Durham, now serving a 50-year sentence for operating a Ponzi scheme, is heads for a Hamilton County Sheriff’s sale today.
The property, which has fallen into disrepair, was abandoned by Durham with thousands of dollars in back taxes owed. A foreclosure lawsuit was filed in 2010 by lender JPMorgan Chase.
The nearly 11,000 square foot, seven bedroom, eight bath mansion overlooking Geist Reservoir was listed for $5.5 million. JPMorgan Chase is owed about $4.5 million on the property.