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Six Indictments in AOL-PurchasePro Deals

The individuals were accused of engaging in a scheme to artificially inflate revenue reported to the SEC through secret side deals, back-dated contracts, and revenue swaps.

> > Charges of conspiracy, securities fraud, obstruction of justice, and wire fraud were brought against PurchasePro founder and former chief executive officer Charles Johnson Jr., former PurchasePro executives Chris Benyo, Michael Kennedy, and Scott Wiegand, and former AOL executives John Tuli and Kent Wakeford. The SEC also filed civil charges against five of the six individuals
Source: CFO


Published:2005-01-12
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