Friday, May 23, 2008

AOL Time Warner Executives Charged

Some of the largest fraud cases are among the rich in companies. On Monday, the Feds said eight former executives of AOL Time Warner had fraudently inflated the company's online advertising revenues by more than $1 billion between the years 2000 and 2002. Of these eight, four have agreed to settle the civil charges brought by the U.S. Securities and Exchange Commission by paying roughly $8 in fines and returning allegedly ill-gotten gains. I can't even imagine that kind of money, can you? It seems the more you have, the more you want, whether honestly gained or not.

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