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National Lampoon Ex-CEO To Pay SEC $1.3M Penalty

Law360, New York (August 18, 2017, 7:15 PM EDT) -- An Indiana federal judge on Friday partly granted the U.S. Securities and Exchange Commission’s motion for judgment on claims the jailed former CEO of National Lampoon Inc. ran a Ponzi scheme, ordering him to pay a $1.3 million penalty, but denied the agency’s bid for $230 million in disgorgement.

U.S. District Judge Jane Magnus-Stinson agreed with the SEC that a jury verdict convicting former National Lampoon CEO Timothy S. Durham of securities fraud in 2012 is enough to establish Durham committed civil violations of the Securities...
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Case Information

Case Title

SECURITIES AND EXCHANGE COMMISSION v. DURHAM et al


Case Number

1:11-cv-00370

Court

Indiana Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge Jane Magnus-Stinson

Date Filed

March 16, 2011

Government Agencies

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