National Lampoon honcho arrested in Ponzi scheme. He probably didn’t know he was on double secret probation:
The chief executive officer of National Lampoon Inc., the comedy brand behind “Animal House” and the “Vacation” movie franchise, was arrested early Wednesday in West Hollywood in connection with an alleged $200-million Ponzi scheme, federal authorities said.
Timothy Durham, 48, is accused in a federal grand jury indictment of defrauding investors through his loan company and using the money to support expensive homes and cars, a 100-foot yacht and travel on a personal jet.
The arrest and indictment come two years after the FBI raided two of Durham’s businesses — Obsidian Enterprises of Indianapolis and Fair Financial of Akron, Ohio. Also named in the 23-page grand jury indictment were business associates James F. Cochran and Rick D. Snow.