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.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access