National Lampoon CEO Convicted In $230M Investor Scam

Law360, New York (June 20, 2012, 10:23 PM EDT) -- An Indiana federal jury on Wednesday convicted National Lampoon Inc. CEO Timothy Durham of running a $230 million scam that for four years defrauded more than 5,000 investors and misled them about a financial services business he ran.

Durham, 49, was convicted of securities fraud, conspiracy and 10 counts of wire fraud, while two of his business partners, Rick Snow, 48, and James Cochran, 56, were found guilty on conspiracy and securities fraud charges from their roles in the Fair Financial Co. scam, Durham’s attorney John...
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