A jury found him guilty, reports Bloomberg, of defrauding investors of Fair Finance of $208 million. Fair Finance had facilitated liquidity for retailers. The prosecution is asking the U.S. District Judge to give Durham a sentence that would be longer than Madoff's. His lawyer wants a short one, given that Durham is already in his 50s.
If an eye popper of a sentence is handed down, potential manipulators of investor funds might think twice before engaging in funny business. Incidentally, Durham had been the former Chief Executive Office of National Lampoon. In prison, he might get permission to set up the jailbird's version of the ONION and to stage "SNL" kind of skits.