Timothy S. Durham, the onetime chief executive officer of National Lampoon Inc., was sentenced to 50 years in prison for defrauding investors in an unrelated company he partly controlled. Durham, who was also the CEO of Indianapolis-based buyout firm Obsidian Enterprises Inc., and an accomplice, James Cochran, 57, were convicted in June of taking money raised from Fair Finance investors, spending it on themselves and lending it to other entities they controlled. A third man, Rick Snow, 49, was convicted of helping to deceive investors about the company’s financial condition. The three squandered $208 million of investors’ money, according to U.S. Attorney Joseph Hogsett in Indianapolis [...] “I feel badly about all this,” Durham told Magnus- Stinson. He said he was surprised at the amount of money lost by four victims who also spoke in court today. “I wish I had tried harder to make things clearer for them,” he said of Fair Finance’s public disclosures. [Bloomberg]

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  1. Posted by EEK | December 1, 2012 at 4:15 AM

    l0l

  2. Posted by AARP TARPer | December 2, 2012 at 10:37 AM

    The National Lampoon was at one time "The Onion" of the 1970s. It was hilarious and had great writing. If you want to read some pure genius, read the National Lampoon's "1964 High School Yearbook" circa 1973. The pictures and writing are incredible. You can still get some copies by Amazon I bet. The high school annual parody was so good it got an unsolicited plug on air from Johnny Carson back in the day.

    That shithead Durham in the article above had nothing to do with the former greatness of the National Lampoon.

  3. Posted by dissertation help | February 20, 2013 at 5:44 PM

    damn CEO wasting our money he should be jailed forever

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