3:25PM EST November 30. 2012 - INDIANAPOLIS (AP) — A financier and former chief executive of humor magazine National Lampoon convicted of swindling investors out of about $200 million was sentenced Friday to 50 years in prison.
U.S. District Judge Jane Magnus-Stinson said the case against Timothy Durham was characterized by "deceit, greed and arrogance" and that Durham had violated the trust of thousands of small investors from the American Heartland.
Two of Durham's associates, James Cochran and Rick Snow, were to be sentenced later Friday.
A jury in June found the three men guilty of securities fraud and conspiracy. It also convicted Durham, a major Indiana Republican Party donor who resigned his post at National Lampoon in January, of 10 counts of wire fraud, while Cochran and Snow were convicted on some of those counts.
When Blankfein, Pandit, Dimon and Willumstad are on the prison bus, many US citizens might sleep easier.
However, given that Clinton was their waterboy and Obama hasn't reached that status yet but is clearly striving to mean something to his Wall Street sponsors, one doubts that prison bus will ever see a passenger.