SEC charges eight ex-AOL TW execs with civil fraud
For two years, between 2000 and 2002, AOL execs cooked the books, bigtime. They inflated revenues by more than $1bn, through artificial barter deals, by booking one-time gains as advertising income, and by booking the entire gross amount of advertising contracts instead of just the commission element. The Washington Post exposed …
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Nice
Good to see they're going after the guys at the top, not scapegoating some pencil-pusher in Accounting.
Something very wierd is happening
I can't fathom this out. For some inexplicable reason the criminals are being pursued through the court system, prosecuted and fined at punitive levels. Whatever next?
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