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July 04, 2024, 02:28:10 AM

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AOL to be charged with fraud

Started by Mayhem,

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Mayhem

A REPORT FROM Reuters said that the US government will extract $210 million from AOL.
And it will probably have to pay an additional $300 million to the SEC after it bought a chunk of Bertelsmann Europe, the wire said.

Further, the US government is to push a criminal complaint, via the Justice Department, alleging AOL and PurchasePro.com inflated revenues. The feds allege that scheme took place to make its revenues look better than they were.

But the prosecution will be deferred for two years, after AOL agreed to cooperate fully with the United States and help it in its investigations.

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Too funny  O0
Nothing spoils a good story like the arrival of an eyewitness.


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