HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » Ex-National Lampoon CEO s...
Introducing Discussionist: A new forum by the creators of DU

Fri Nov 30, 2012, 06:28 PM

Ex-National Lampoon CEO sentenced to 50 years in jail

Source: Associated Press

Ex-National Lampoon CEO sentenced to 50 years in jail

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.

-snip-

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.

-snip-


Read more: http://www.usatoday.com/story/money/business/2012/11/30/national-lampoon-ceo-50-year-jail-sentence/1738073/

3 replies, 860 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 3 replies Author Time Post
Reply Ex-National Lampoon CEO sentenced to 50 years in jail (Original post)
Eugene Nov 2012 OP
AnotherMcIntosh Nov 2012 #1
Fuddnik Nov 2012 #2
JLII Dec 2012 #3

Response to Eugene (Original post)


Response to Eugene (Original post)

Fri Nov 30, 2012, 06:48 PM

2. "But Judge, we were just joking".

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Eugene (Original post)

Sun Dec 9, 2012, 01:26 PM

3. More smallfry, is it?

 

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.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread