Six executives charged in AOL fraud investigations

[JURIST] Six individuals, two former AOL [corporate website] executives and four former executives from the now-defunct PurchasePro software company, have been charged in an ongoing investigation into a secret negotiation between the two companies to artificially increase PurchasePro's revenues. Federal prosecutors have already charged six other PurchasePro executives, and all have pleaded guilty to the charges. Kent Wakeford and John Tuli are the first AOL employees to be charged in the investigation, and both face indictments for stock fraud, securities fraud, making false statements to auditors, and wire fraud. AP has more.



 

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.