New Twist in Hollywood Accounting

FRANKLIN, Tenn. (CN) - A Tennessee company claims a Santa Monica-based producer took $1.5 million to make a movie, but never put up the $3.5 million it promised. Along the way, Yarbrough Production claims, Bret Saxon's companies transferred some of the $1.5 million Yarbrough put up "through several unauthorized accounts, to give the appearance" that the money came the defendants.

Yarbrough sued Saxon, IMG and Set in Space in Williamson County Court. Saxon is chairman of the board, president, treasurer and secretary of both defendants, according to the complaint.

Yarbrough claims that after it paid the $1.5 million, "Set in Space transferred a portion YPC's one and a half million dollars through several unauthorized accounts, to give the appearance that a portion of IMG's $3.5 million funding had been received."

Yarbrough claims Saxon offered as security his interest in IMG Film 7, which allegedly holds rights to the movie "The Grand," starring Woody Harrelson, who is not a party to this complaint.

Despite numerous requests, Yarbrough says it has never received proof from Saxon that IMG put up the $3.5 million it promised.

Yarbrough claims that "Set in Space was prohibited from utilizing any of the money in the picture account until one hundred (100) percent of the combined financing had been received in the account."

Yarbrough wants its money back, and damages for breach of contract, fraud, and breach of trust.

It is represented by Todd McTavish with Video Gaming Technologies of Brentwood, Tenn.

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