Earthlink Co-Founder to Plead Guilty to Fraud

from the money-too-cheap-to-meter! dept.

The San Diego Union Tribune is carrying a story that says Reed Slatkin, co-founder of mega-ISP Earthlink, has agreed to plead guilty to charges he operated a fraudulent Ponzi scheme that involved nearly $600 million of investors’ money. Prosecutors say he could face 12 to 15 years in prison and a fine of up to $3.75 million. Ouch. Makes you wonder what sort of punishment he would be looking at if he didn’t cop a plea.

Leave a Reply

You must be logged in to post a comment.