Former Homestore CEO Handed 15-Year Jail Term

Law360, New York (October 19, 2006, 12:00 AM EDT) -- Marking one of the stiffest penalties imposed in a corporate crime case in recent months, founder and former chief executive of online real estate listings company Homestore Inc. has been handed a 15-year prison sentence and a $5 million fine for masterminding a $67 million accounting fraud.

U.S. District Judge Percy Anderson handed down the sentence to Stuart Wolff, who was at the helm of the fallen company from 1997 to 2002, last Thursday, saying the hefty punishment was justified because Wolff had not accepted responsibility...
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