Friday, April 23, 2010

Wow! This case has been going on for years!

NEWS FLASH

Former Homestore CEO sentenced to 4.5 years in prison

Former Homestore.com chairman and CEO Stuart Wolff was sentenced to 4 1/2 years in prison Monday after a judge rejected a plea by his lawyers for a lighter sentence.

A plea agreement Wolff signed in January called for him to spend between three and five years in prison for his role in a scheme that artificially inflated Homestore's revenue in 2001. Wolff pleaded guilty to one count of conspiracy to commit securities fraud. Read full story here.


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