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by CareyBot

A U.S. District Court judge on Thursday sentenced Stuart Wolff, the former CEO of Homestore Inc. (now doing business as Move Inc.), to 15 years in federal prison. He was also ordered to pay a $5 million fine and restitution to victims of a financial scheme that artificially inflated revenues and nearly collapsed the company. In June, U.S. District Court Judge Percy Anderson found Wolff, 43, 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. Wolff is appealing the conviction and sentencing. He faced a maximum statutory sentence of 175 years in federal prison for the crimes. Assistant U.S. Attorney Michael R. Wilner said that Wolff spoke b...