Convicted financier says he can't afford lawyer

Tim Durham
Published: .
Updated: .

An Indiana financier and former chief executive of National Lampoon convicted of swindling investors out of $200 million says he can't afford to hire an attorney for his appeal.

Timothy Durham says in federal court documents that his multimillion-dollar Indianapolis home is in foreclosure and all of his financial assets are tied up in the bankruptcy of companies he formerly controlled.

Durham says his only recent income was $6,000 that he received this year as a director of a Dallas-based insurer.

Durham was sentenced to 50 years in prison last month on securities fraud and other convictions in the collapse of Akron, Ohio-based Fair Finance.

The attorney who defended Durham at trial says the appeal will likely include defense arguments that an FBI wiretap of Durham's cellphone was illegal.

Durham's notice of appeal appeared on the electronic docket of U.S. District Court in Indianapolis on Monday. The case will be heard by the Chicago-based 7th U.S. Circuit of Appeals.

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