May 19, 2008
8 ex-AOL Time Warner executives charged
Federal regulators on Monday said eight former Time Warner Inc. executives fraudulently inflated the company's online advertising revenues by more than $1 billion between 2000 and 2002.
Four of the executives have agreed to settle the civil charges brought by the Securities and Exchange Commission by paying a total of roughly $8 million in fines and returning allegedly ill-gotten gains. They are David Colburn, Eric Keller, Jay Rappaport and James MacGuidwin. MacGuidwin was controller of the media company; the other three were in its business affairs unit.
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