National Lampoon CEO Arrested For Alleged Ponzi Scheme

LOS ANGELES (CBS) — The head of National Lampoon Inc. was arrested Wednesday in West Hollywood in an alleged Ponzi scheme involving about $200 million.

Timothy Durham, 48,  is the chief executive officer of the longstanding comedy franchise, which was made famous by movies like “Animal House” and the “Vacation” series.

He was indicted by a federal grand jury indictment on charges of defrauding investors through his loan company and using the money for himself, yachting and traveling on private jets, the Los Angeles Times reported.

Durham is scheduled to be in U.S. District Court in Los Angeles Wednesday afternoon.

The arrest and indictment come two years after the FBI raided two of Durham’s businesses — Obsidian Obsidian Enterprises of Indianapolis and Fair Financial of Akron, Ohio, The Times reported.

(©2011 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)


One Comment

  1. Lenny says:

    He must be one cheap, lying, no-good, rotten, four-flushing, low-life, snake-licking, dirt-eating, inbred, overstuffed, ignorant, blood-sucking, dog-kissing, brainless, ****less, hopeless, heartless, fat-***, bug-eyed, stiff-legged, spotty-lipped, worm-headed sack of monkey ****

  2. zaks5thave says:

    Lenny what do you expect, he is a demoncrat.

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Los Angeles

KNX 1070 Newsradio

Listen Live