National Lampoon Head Gets 4 Years for Conspiracy

Prosecutors say Daniel Laikin paid people to buy shares in order to inflate the company's share prices

The former CEO of entertainment company National Lampoon Inc. has been sentenced in Philadelphia to nearly four years in prison in a stock price manipulation scheme.

Federal prosecutors say 48-year-old Daniel Laikin plotted to artificially inflate the company's stock price by paying people to buy shares. Prosecutors say Laikin and others hoped to push the share price from $2 to $5 to boost the company's attractiveness in a strategic partnership or acquisition.

Read more at Associated Press.