The former CEO of National Lampoon Inc. Daniel Laikin has been sentenced to three years and nine months in prison for conspiracy.
He is guilty of participating in a stock price manipulation scheme where in order to increase his company's stock price, he paid people to buy shares.
Prosecutors say Laikin tried to boost the share price from $2 to $5 to increase company's attractiveness in a strategic partnership or acquisition. The company has since been removed from the American Stock Exchange and its share price plummeted.
Hope he learned his lesson.