Ex-AOL Execs Plead Innocent to Stock Fraud
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Two former executives at America Online and four executives at a now-defunct Las Vegas software firm pleaded innocent Tuesday to stock fraud and other charges in federal court.
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Federal prosecutors are strongly considering criminal charges against former executives of Broadcom Corp., Apple Inc., and KLA-Tencor Corp., related to the backdating of stock options, the Wall Street Journal reported on Friday, citing people familiar with the situation.
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NEW YORK, Feb. 4 -- A former America Online Inc. software engineer pleaded guilty Friday to stealing 92 million screen names and e-mail addresses and selling them to spammers.
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Two former officers of Comverse  Technology Inc.  surrendered to FBI agents on Wednesday  as authorities charged them and the software group's former  chief executive with criminal fraud in a widening U.S.  investigation of corporate stock option manipulation.
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Three former Countrywide  Financial Corp.  executives agreed to plead guilty to  charges they conducted insider trading in the mortgage lender&#39;s  shares in the week leading up to a disappointing earnings  report, federal prosecutors said.
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America Online should be subject to lawsuits by Homestore.com shareholders who are seeking to prove that AOL engaged in sham deals that helped Homestore improperly report higher revenue, lawyers at the Securities and Exchange Commission argued.
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A former executive from Enron Corp.&#39;s defunct high-speed Internet unit pleaded guilty Tuesday to one count of conspiracy related to the scandal-choked company&#39;s collapse.
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Takafumi Horie, the former chief executive of the internet firm Live-door, pleaded not guilty Tokyo yesterday to conspiring to boost its share price by falsifying accounts. Mr Horie, 33, said: "I have not carried out, or instructed, such crimes as were mentioned.
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A federal grand jury on Monday  indicted six former executives of Time Warner Inc.'s TWX.N  America Online unit and former business partner PurchasePro.com  on charges of conspiracy to inflate revenues.
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(InfoWorld) - Adam Vitale pled guilty Monday to sending unsolicited e-mail to 1.2 million AOL LLC subscribers, U.S. Attorney for the Southern District of New York Michael J. Garcia said. Vitale and co-defendant Todd Moeller, were in contact with a government confidential informant via instant messaging, and agreed to send spam advertisements for a product in exchange for half of the profits, Garcia said in a statement. The pair then sent about 1.2 million unsolicited e-mails to AOL users between August 17 and August 23, 2005. They changed the headers on the e-mails and used various computers to conceal the source of the spam. Vitale, 26, resides in Brooklyn. Sentencing is scheduled for September 13 before U.S. District Judge Denny Chin, who presided over the criminal case, in Manhattan. He faces a maximum sentence of 11 years in prison and a fine of US$250,000 or double the maximum gain or loss resulting from the offense. Moeller, a New Jersey resident, will stand trial for the same charges. One observer felt the legal victory was somewhat hollow. "I think this is a moral victory for AOL, but not much else," said Adam O'Donnell, director of emerging technologies at Cloudmark Inc. "The economic motivations underlying abuse mean some other spammer has already taken his place, and it is likely the spammer's replacement is coming from outside American jurisdiction." Â
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A former FBI agent and an internet stock picker are guilty of using confidential US government information to manipulate stock prices.
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Former Qwest Communications Inc. (QN: Quote, Profile, Research) executive Tom Hall, who was scheduled to go on trial next month for accounting fraud, will plead guilty, his attorney said on Friday in a court filing.
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An AOL user who logged on to check his online financial portfolio was given access to someone else's data and is calling on AOL to correct what he sees as a security breach. AOL acknowledged an "issue," but said corrective action has been taken.
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A former top executive of the company that runs the Monster job search website admitted in court yesterday that he illegally backdated millions of dollars in employee stock-option grants -- a practice that cheats shareholders.
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Two executives from American International Group Inc.  and one from Marsh & McLennan Cos.  pleaded guilty on Tuesday to fraud charges stemming from New York Attorney General Eliot Spitzer's sweeping investigation into fraud in the industry.
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(Hartford-AP Sept. 24, 2004 1:00 PM) _ All three people named in the federal indictments stemming from the investigation into the Rowland administration have pleaded innocent to the charges.
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(InfoWorld) - Six men have been charged with orchestrating a phishing scheme that targeted AOL users, the U.S. Department of Justice said Wednesday. The men are accused of harvesting thousands of AOL e-mail addresses and then infecting victims' PCs with malicious software that would prevent them from logging on to AOL without entering their credit card numbers, bank account numbers, and other personal information. Under the scam, victims would receive fake e-mail greeting cards that would silently infect their computers with the log-on software, according to a grand jury indictment. Victims were also spammed with phoney e-mail messages that claimed to have come from AOL's billing department. "Due to a central server meltdown, your credit card information was lost," one such e-mail read, according to the indictment. "In order to enjoy your AOL experience and keep your account active, you must enter your credit card information within 24 hours." Some of the fake greeting cards claimed to come from Web sites such as Hallmark.com or BlueMountain.com, the indictment states. AOL users appear to have been the primary targets of the fraud, but others may also have been targeted, according to Tom Carson, a spokesman for the United States Attorney's office for the District of Connecticut. "The investigation is ongoing," he said. "I think we can say the bulk of those targeted were AOL users, but we can't say with 100 percent certainty that they were the only victims," he said. The accused are believed to have defrauded thousands of individuals, U.S. Attorney Kevin O'Connor said in a statement. "These are insidious crimes that wreak havoc on the lives of victims, and we will seek strict terms of imprisonment." The alleged scam was conducted over a two-year period, beginning in 2004, the U.S. Attorney said. Proceeds from the crime were used to purchase gaming consoles, laptop computers and gift cards, the indictment states. The men were actually indicted on fraud charges last week by a federal grand jury in New Haven, but the charges were not made public until Wednesday, when three of the men pleaded guilty. The three who have pleaded guilty face between two years and nine and a half years in prison, Carson said. They are Charlie Blount Jr., 22, of Branford, Connecticut, Richard D'Andrea, 22, of West Haven, Connecticut, and Thomas Taylor Jr., 20, also of West Haven. They are scheduled to be sentenced in mid-December. The three men awaiting arraignment are Michael Dolan, 22, of North Miami Beach, Florida, Keith Riedel, 20, of Winter Haven, Florida, and Daniel Mascia, 22, of West Haven. Dolan had previously been sentenced to two years of probation after pleading guilty to accessing a protected computer without authorization.