Homestore Execs Plead Guilty, Will Help With Case Against AOL

from the use-the-small-fry-to-get-the-big-fish dept

It seems that the prosecuting attorneys looking into the Homestore fraud case have worked out a plea bargain for execs at the firm in order to help them nab the much bigger name in the scam. Three Homestore execs are going to plead guilty to charges of security fraud, and then “cooperate” with the rest of the investigation into AOL’s accounting practices. The whole mess is because of a deal between AOL and Homestore to shift money between the two companies through various “deals” so that each side could count money (that was really theirs in the first place) as “revenue” to make the books look better.

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