Former AOL Execs Acquitted of Fraud
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An Alexandria jury today acquitted two former America Online Inc. executives of conspiracy and securities fraud, bringing a decisive conclusion to a government probe that fell far short of its mark.
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A jury convicted five and acquitted one of six former Enron and Merrill Lynch employees yesterday in the first prosecution arising from the accounting fraud that led to the energy trader&#39;s collapse.
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IRVINE, Calif. -- A federal jury ruled that two former Gateway Inc. executives manipulated earnings to meet analysts' expectations, the Securities and Exchange Commission said yesterday.
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IRVINE, Calif. -- A federal jury ruled that two former Gateway Inc. executives manipulated earnings to meet analysts' expectations, the Securities and Exchange Commission said Thursday.
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(InfoWorld) - A U.S. federal jury convicted the former owner and president of ATE Tel Solutions Inc., a telecommunications and Internet service provider, on seven of nine counts of wire fraud in a scheme to defraud the E-Rate program, the U.S. Department of Justice said Friday. Rafael G. Adame was convicted of submitting fraudulent invoices for payment to the U.S. Federal Communications Commission's Universal Service Administrative Company. The E-Rate program provides subsidies to schools and libraries in poor, and often rural, areas of the U.S. so that they can afford Internet connectivity, computers and communications networks. Adame submitted the fraudulent invoices via wire communications when his company provided Internet services to schools in Texas. The federal jury that convicted him is in McAllen, Texas. He was found guilty of submitting fraudulent invoices via wire between December 2001 and May 2003, receiving US$106,514 in payments through the E-Rate program. Adame faces up to 20 years in prison for each count on which he was convicted and a $250,000 fine. He has not yet been sentenced.
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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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Former execs had been charged with fraudulent wire communications, identity theft and conspiracy.
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p2pnet.net News:- Time Warner executives must be wishing theyâd never heard of America Online. âThe Justice Department will file a criminal complaint that accuses AOL and PurchasePro.
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WASHINGTON : Four former Merrill Lynch bankers and a former Enron executive were convicted by a Texas jury on criminal charges for carrying out a fraudulent deal that helped the notorious energy trader inflate its earnings.
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A three-judge court acquitted 19 executives and consultants accused of fraud in the collapse of Switzerlandâs former national carrier, Swissair, and ordered the government to pay them compensation totaling more than $2.5 million. The defendants denied charges that included damaging creditors, mismanagement, making false statements and forging documents. Some have blamed the big Swiss banks and the Sept. 11, 2001, attacks for the airlineâs downfall. Swissair was grounded Oct. 2, 2001, after months of financial problems. Prosecutors sought prison for Mario Corti, the last chief executive of the parent SAirGroup, which is now defunct, and a range of suspended sentences for 18 other airline executives, board members and consultants.
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A Houston jury Wednesday acquitted a former Enron accountant but found five other defendants guilty of wire fraud and conspiracy. The jury cleared Sheila Kahanek of all charges
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Two former executives at America Online were among six people charged Monday with fraud and making false statements to auditors as part of the federal government's ongoing investigation into illegal accounting practices at AOL. -AP
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Two former executives at America Online were among six people charged yesterday with stock fraud and other offenses as part of the federal government's ongoing investigation into illegal accounting practices at AOL.
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Three men have been cleared of blackmailing Wayne Rooney&#39;s former football agent after it emerged he had misled the court. John Hyland, Christopher Bacon and Anthony Bacon were on trial at Warrington Crown
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A federal jury convicted four former Enterasys executives on securities fraud and conspiracy charges Tuesday, but was unable to reach a verdict on five charges against the computer networking company's former chief operating officer.
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AOL co-founder Steve Case has offered a qualified apology for his role in architecting the online company's disastrous combination with Time Warner Inc.
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AOL helped build a case that led to the conviction of one of the world&#39;s most prolific spammers, Jeremy Jaynes. A state jury in Virginia has recommended a nine-year prison term in the nation&#39;s first felony trial of spam purveyors.