Durham, a Republican Party fundraiser....50 year prison sentence (woweeeeeee! )

http://www.bloomberg.com/news/2012-11-30/ex-national-lampoon-ceo-tim-durham-gets-50-years-prison.html?cmpid=otbrn.leaders.story


Ex-National Lampoon CEO Tim Durham Gets 50 Years Prison
By Andrew Harris & Howard Smulevitz - Nov 30, 2012 2:58 PM PT



Timothy S. Durham, the onetime chief executive officer of National Lampoon (NLMP) Inc., was sentenced to 50 years in prison for defrauding investors in an unrelated company he partly controlled. “I found no sincere remorse,” U.S. District Judge Jane Magnus-Stinson in Indianapolis said today before imposing punishment on Durham, 50. She said the former Fair Finance Co. CEO exhibited deceit, greed and arrogance.


Timothy S. Durham , the former chief executive officer of National Lampoon Inc., was sentenced to 50 years in prison for defrauding investors in an unrelated company he partly controlled. Photographer: Joe Vitti/The Indianapolis Star via Getty Images

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Durham, who was also the CEO of Indianapolis-based buyout firm Obsidian Enterprises Inc., and an accomplice, James Cochran, 57, were convicted in June of taking money raised from Fair Finance investors, spending it on themselves and lending it to other entities they controlled. A third man, Rick Snow, 49, was convicted of helping to deceive investors about the company’s financial condition.

The three squandered $208 million of investors’ money, according to U.S. Attorney Joseph Hogsett in Indianapolis.

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Durham, a Republican Party fundraiser, resigned from National Lampoon in January. The Los Angeles-based media company wasn’t named in the government’s charging documents.

The case is U.S. v. Durham, 11-cr-00042, U.S. District Court, Southern District of Indiana (Indianapolis).