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twitterAOL revenue probe widens
Wednesday, March 12, 2003 | 11:07 a.m.
SUN STAFF AND WIRE REPORTS
A probe of America Online Inc. is widening to investigate whether the company was "aiding and abetting" schemes by other companies to inflate reported revenue, The Washington Post reported today.
Securities and Exchange Commission investigators will investigate whether AOL and other companies exchanged cash through sham transactions to inflate their revenue, and whether former executives David M. Colburn and Eric Keller were involved, the Post said.
Keller has previously been tied to an alleged revenue-inflation deal involving AOL and PurchasePro, a bankrupt Las Vegas technology company.
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