Tuesday, January 11, 2005

AOL indictments on PuchasePro, more to follow?

Today, some AOL executives were indicted for, among other things, accounting fraud. Apparently, they had forged a signature on some financing documents, as well as a variety of accounting fraud issues.
This apparently is just the beginning, Time Warner has already settled for a massive fine, and the Justice Department promises more prosecutions.
The difficulty with proving this kind of fraud is that most of the so-called "evidence" of fraud exists only in the minds of the executives, and the average jury may have a hard time with complicated financial issues.

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