Local News

Still Hope for Victims of Con Man

(La Porte County, IN) - The victims of a million dollar con man from Michigan City have a chance of getting back at least some of their stolen money.


After released from prison, Tim Bailey under a judge’s order, has to make $1,000 a month payments during the five years he’s on probation.  The victims can also go after Bailey for the rest of the funds because a civil judgment leveled against the defendant by the court.


Slightly over $1 million was swindled by Bailey from three victims in a housing investment scam.  At least $200,000 of the stolen loot appears to have been spent at casinos based on withdrawals from casinos and ATM's near casinos, authorities said.


La Porte County Prosecutor John Lake said what happened to the rest of the money is not known.  He said the victims might have to hire a private investigator in a civil case to find out if Bailey is stashing the rest of their cash or bought things with it. 


Lake said the victims would be entitled to any of the stolen cash or assets he might have purchased with the money.  “If they have hard assets like cars and stocks and bonds and that type of thing then you can track those down,” he said.


Bailey has numerous prior convictions for fraud and theft related crimes.  He has to serve five years in prison before placed on probation.


Bailey, after being sentenced earlier this month, failed to show up at the La Porte County Jail the next day to begin serving his sentence.  He was arrested about two weeks ago in Arkansas and will be returned to La Porte County at some point to begin paying his debt to society.

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