Case settled.
Case Settled: Peter B. Tafeen, a former top executive of Homestore.com Inc., agreed to pay a $2.6 million fine to resolve charges that he defrauded shareholders by inflating the company's advertising revenues, according to the Securities and Exchange Commission. In addition to the free, Tafeen will be permanently barred from serving as an officer or director of a public company. In a separate action, Tafeen was indicted last spring for his role in the scheme and pleaded guilty to one count of securities fraud. U.S. District Court Judge Percy Percy, family name of dukes and earls of Northumberland. Anderson sentenced Tafeen to 30 months in federal prison and ordered him to pay $240,000 in restitution to harmed investors. Homestore, an online real estate listing service, has since been restructured and does business as Move.com in Westlake Village.
COPYRIGHT 2006 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion