National Lampoon CEO Accused Of $230M Fraud

Law360, New York (March 16, 2011, 6:36 PM EDT) -- The CEO of media company National Lampoon Inc. faces criminal charges in Indiana and a civil suit over an alleged $230 million securities fraud he ran out of a financial services company he heads, federal prosecutors said Wednesday.

A grand jury in the U.S. District Court for the Southern District of Indiana on Tuesday indicted Timothy S. Durham with 12 charges of conspiracy, securities fraud and wire fraud connected with their positions at Ohio's Fair Financial Co.

Those charges were unsealed Wednesday, the same day that...
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