StarMedia Ex-Head Settles Over Alleged $18M Fraud

Law360, New York (March 9, 2011, 6:52 PM EST) -- The former president of StarMedia Network Inc., an Internet company that allegedly overstated revenues by $18 million over two years, agreed in a New York federal court Tuesday to pay a civil penalty of $100,000 for his role in the scandal.

Jack C. Chen, who co-founded the company, consented to the entry of a final judgment in the U.S. District Court for the Southern District of New York without admitting or denying allegations made by the U.S. Securities and Exchange Commission, according to an order signed...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.