Head Of National Lampoon Arrested For Ponzi Scheme

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This is a full-blown, four-alarm legal emergency here. Apparently Timothy Durham, president of National Lampoon Inc, has been charged over a $200 million Ponzi scheme.  Heading up National Lampoon since 2008, Durham alleged defrauded investors through another of his businesses, Fair Financial Services. According to allegations, he and co-defendant James Cochran would basically use the company as a giant ATM to “maintain their lifestyles and to pay for personal expenses,” which include $150,000 for  a night of gambling and $50,000 toward country club fees. All those employees that received a Jelly Of The Month Club membership during the holidays are going to be pissed.