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 Send to email | SEC Sues Crap Out of Former AOL Execs Kelly, Colburn, Et Al in TWX |  By Silicon
el 19-May-2008 |
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 The SEC filed civil fraud charges against former AOL Time Warner CFO Mike Kelly, ad sales quarterback David Colburn, and 6 other former executives today, concluding an ancient investigation into behavior at AOL during the peak of the tech bubble (TWX). Four of the men settled (without admitting or denying the charges) and paid $8 million in fines and penalties. The others, including former AOL and Time Warner CFO Mike Kelly, vigorously deny the charges and will continue to fight.
The charges stem from ad deals in the last couple of years before AOL's collapse (2000-2202). The SEC alleged that the eight execs participated in a scheme that overstated revenue by more than $1 billion. David Colburn (above), long perceived as the architect of the alleged schemes, settled the allegations, paying about $4 million and accepting a 10-year ban from serving as a public-company officer or director. WSJ:
The SEC claims the scheme inflated online ad revenue, a key measure for
analysts and investors evaluating the company, from at least mid-2000
to mid-2002. In a civil lawsuit, filed in federal district court in
Manhattan, the SEC named former AOL Time Warner Chief Financial Officer
John Michael Kelly; Joseph Ripp, former CFO of the company's AOL
division; Steven Rindner, a former senior executive in the company's
business affairs unit; and Mark Wovsaniker, former head of accounting
policy
The SEC reached settlements in a separate lawsuit, also filed in
federal court in Manhattan on Monday, with former controller ames
MacGuidwin, and three former officials from the company's business
affairs unit. All four agreed to pay fines and return allegedly
ill-gotten gains, with interest. Mr. MacGuidwin agreed to be banned
from serving as a public company officer or director for seven years,
and David Colburn, the former head of the business affairs unit, agreed
to a 10-year ban, the SEC said. Mr. Colburn will pay disgorgement and
prejudgment interest of $3.2 million and a $750,000 penalty while Mr.
MacGuidwin will return $2.1 million and pay a $300,000 penalty,
according to the SEC.
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 | Joystiq |  Blogger | Covers video game news from an independent, unbiased perspective
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| Activision execs receive millions in bonuses |  Filed under: Business
Activision CEO Bobby Kotick and co-chairman Brian Kelly have each received bonuses from the company of approximately $3 million each. Michael Griffith, CEO of Activision Publishi [..] Read complete article | | Published 03-Jul-2008 by Alexander Sliwinski in activisionbobby-kotickbonusbrian-kellykotick
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| Nerdblog | Blogger | Provides news about hardware, software, notebooks, laptops, PCs, Mac, PDAs
Nerdblog.Net |
| Autoscope by Joe Kelly |  Joe Kelly sent me a link to his website where he has some really amazing works of art. Most of them are based on different pre-cinema technology. The image above is his Autoscope that was created a few years back for a festival in Calgary.
The Autoscope is an early prefilm media device/installation (it even [...] [..] Read complete article | | Published 14-Aug-2008 by Nerdblog in General
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| Problogger | Blogger | Blog tips to help you blogging
ProBlogger Blog Tips Make Money Online |
| Should You Incorporate | | This guest post is part of a two part series written by Kelly Phillips Erb, a tax attorney who blogs for b5media at taxgirl.com. You can find out more about Kelly here. For more information about tax and blogging, check out her handy list of prior articles on the subject including Problogger articles!
“Should I [...] [..] Read complete article | | Published 06-Jul-2008 by Darren Rowse in Miscellaneous Blog Tips
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| Problogger | Blogger | Blog tips to help you blogging
ProBlogger Blog Tips Make Money Online |
| Nerdblog | Blogger | Provides news about hardware, software, notebooks, laptops, PCs, Mac, PDAs
Nerdblog.Net |
| Kevin Kelly on BBtv | | Boing Boing TV did a really nice two-part interview with MAKE contributor, Whole Earth Catalog and Review editor, and Wired co-founder (and one of my personal heroes) Kevin Kelly. While not mainline Make: Blog fare, Kevin talks about a number of things makers might find interesting: nomadic photojournalism (and how you can take good pictures [...] [..] Read complete article | | Published 23-May-2008 by Nerdblog in General
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| Joystiq | Blogger | Covers video game news from an independent, unbiased perspective
Joystiq Joystiq |
| Kotaku`s The Gamers Guide | Blogger | XBOX 360 Gamers Weblog
Gossip, news and leaks for obsessive gamers Kotaku As if you don't waste enough of your time in a gamer's haze, here's Kotaku: a gamer's guide that goes beyond the press release. Gossip, cheats, criticism, design, nostalgia, pred |
| Kotaku`s The Gamers Guide | Blogger | XBOX 360 Gamers Weblog
Gossip, news and leaks for obsessive gamers Kotaku As if you don't waste enough of your time in a gamer's haze, here's Kotaku: a gamer's guide that goes beyond the press release. Gossip, cheats, criticism, design, nostalgia, pred |
| Kotaku`s The Gamers Guide | Blogger | XBOX 360 Gamers Weblog
Gossip, news and leaks for obsessive gamers Kotaku As if you don't waste enough of your time in a gamer's haze, here's Kotaku: a gamer's guide that goes beyond the press release. Gossip, cheats, criticism, design, nostalgia, pred |
| Why The Hell Dennis Hopper Did That Mario Movie [Hollywood] | | Calling the 1993 Super Mario Bros. movie "utter tripe crap" is being polite. It's much worse than that. Actor Bob Hoskins, who played Mario, has called the movie "the worst" thing he did. Academy Award winner Dennis Hopper, no stranger to utter tripe crap himself, wasn't too please [..] Read complete article | | Published 07-Nov-2008 by Brian Ashcraft in Hollywood Dennis Hopper News super Mario bros
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Square Enix announced today that two new execs have been hired for the American branch of the Japanese publisher. The two men will sit around for three to five ye [..] 
