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National Lampoon Suing Durham Over Embezzlement


Photo: Dan Goldblatt/WFIU News

Tim Durham and his son, Tim Durham Jr. waiting for the jury to deliver a verdict last June. Durham was convicted of 12 counts of committing and conspiring to commit wire and securities fraud.

Jailed Indiana financier Tim Durham is being sued by National Lampoon. The company is accusing Durham of using one-million dollars of its money to pay his attorney. National Lampoon also filed suit against attorney John Tompkins, and others, who helped wire the money.

Durham was convicted of securities fraud and other crimes in June of last year. The lawsuit claims Durham wired the money after National Lampoon agreed to a $2.7 million dollar settlement with Warner Bros. over the distribution of its “Vacation” movies.

The suit claims Durham altered the company‘s books to cover up the embezzlement. National Lampoon said the transfer happened in July 2011, but claim they didn‘t find the transfer until April 2012.

Durham was CEO of National Lampoon, Inc., from 2008-2009.

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