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News Summary: 50 years for ex-Lampoon head in scam

Friday, 30 Nov 2012 | 2:33 PM ET

PRISON TIME: The former chief executive of National Lampoon, Timothy Durham, was sentenced to 50 years in prison for swindling investors out of about $200 million.

THE MAN: Durham, who resigned his post at National Lampoon in January, was a businessman and major Indiana Republican party donor. National Lampoon owns rights to the "Vacation" and "Animal House" movies.

THE SCAM: Prosecutors have said Durham participated in a fraud that stripped an Ohio company, Fair Finance, of its assets and used the money to buy mansions, classic cars and other luxury items, and to keep another one of Durham's company afloat.

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