Washington (Sept. 27, 2002) -- The Securities and Exchange Commission filed charges this week against three former executives at real estate Web portal Homestore Inc., for allegedly inflating the company's online advertising revenues in 2001 in an effort to impress Wall Street.
The complaint charges the company's former chief operating officer, John Giesecke Jr., its former chief financial officer Joseph J. Shew, and John DeSimone, its former vive president of transactions, with overstating ad revenues by a whopping $46 million for the first three quarters of 2001.
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