Industry News

Sentencing of former Homestore CEO delayed

Stuart Wolff faces maximum sentence of 175 years
Published on Sep 25, 2006

Sentencing for Stuart Wolff, the former CEO of Homestore Inc. who was convicted in June on charges ranging from conspiracy to fraudulent insider trading, has been delayed until at least Oct. 10. Assistant U.S. Attorney Michael R. Wilner said today, "At the defense's request, the hearing has been postponed" and could be delayed until Oct. 10 or Oct. 16. Wolff, 43, reportedly faces a maximum statutory sentence of 175 years in federal prison for the crimes at Homestore, now known as Move Inc. The company operates popular home-search Web site Realtor.com. Wolff served as CEO and chairman of the board at Homestore from 1997-2002, when he resigned during an internal investigation. A jury found Wolff guilty of conspiracy, filing false statements with the U.S. Securities and Exchange Commission, lying to accountants, fraudulent insider trading, and falsification of corporate books and records. He had originally been scheduled for sentencing Sept. 11. There are 11 other defendants who also aw...

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