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Durham accused of using National Lampoon’s money to pay for defense

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National Lampoon is suing former CEO Tim Durham, accusing the disgraced financier of using the company’s money to pay his defense attorney

According to Fox 59’s newsgathering partners at the Indianapolis Business Journal, the company also filed suit against attorney John Tompkins and other individuals who helped make the wire transfer possible.

National Lampoon made a similar allegation against Durham in January.

In June, Durham was convicted of securities fraud and other crimes related to the fall of Akron, Ohio-based Fair Finance. He was sentenced in November to 50 years in federal prison.

The lawsuit, filed last week in Los Angeles, claims the Durham had the money wired after National Lampoon agreed to a $2.7 million settlement with Warner Bros. over the distribution of the Vacation movie series. The suit said Tompkins benefited from that transfer. Durham altered the company’s business records to cover his tracks, the lawsuit claims.

The company said the transfer happened in July 2011. It claims it didn’t discover the transfer until April 2012.

Durham led National Lampoon for three years. He resigned as CEO in January 2012.

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