Timothy Durham, the president and chief executive office of National Lampoon, Inc. – the comedy company that brought you such movies as Animal House and Vacation – was arrested on Wednesday for allegedly perpetrating a $200-million Ponzi scheme involving a business loan company, according to Reuters. Durham, 48, and two former executives at Fair Financial Services – a company that Durham co-owned – were charged on Tuesday with wire and securities fraud in a federal indictment. The charges allege that Durham and one of his co-defendants used investor funds to “maintain their lifestyles and to pay for personal expenses.” When contacted by EW, a National Lampoon spokesperson declined to comment.
Posted March 16 2011 — 9:41 PM EDT
- The Property Bros. try to make Broadway dreams come true in spoof
- Young Broadway fan honors Tony nominees with adorable Lego recreations
- Justin Timberlake is dropping 'Can't Stop the Feeling' on Friday
- 'Survivor: Kaôh Rōng': The majority alliance begins to crumble
- Channing Tatum announces 'Magic Mike Live' show in Las Vegas
- Ava DuVernay departs as director of 'Intelligent Life'
- 'Family Guy' mocks Donald Trump as 'dumb loudmouth' in Emmy mailer