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North American Network Operators Group
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EarthLink founder guilty of operating a Ponzi scheme
- From: blitz
- Date: Wed Mar 27 16:57:37 2002
LOS ANGELES – The co-founder of EarthLink, one of the nation's
largest Internet providers, agreed yesterday to plead
guilty to operating a
Ponzi scheme that involved $593 million and 800
investors, including
celebrities.
Reed Slatkin acknowledged in court documents that he
was responsible
for $254 million in losses and agreed to plead guilty
to mail fraud, wire
fraud, money laundering and obstruction of justice
charges.
Full story here:
http://www.uniontrib.com/news/business/20020327-9999_1n27ponzi.html
Like we didn't know?
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