FORMER AOL EXECS CHARGED BY SEC ON BILLION DOLLAR FRAUD
Four former AOLers have already settled with the SEC. Four more still have a date with a New York courthouse. And just think, some called this case dead only a year or so back… (See this article for more on that score and an interesting link to yesterday’s PurchasePro store.
At issue are allegations that the eight executives participated in a scheme to fluff up AOL company value in the 2000 to 2002 period. AOL got caught at the time, essentially, paying themselves for their own advertising. This allowed AOL to pump up its online advertising revenue by about $1 billion….
Interactive advertising is not just the future, it is the here and now, as it represents a meaningful and growing component of U.S. advertising and marketing spend,” said David Silverman, partner, Assurance, PricewaterhouseCoopers.