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 await sentencing related to past problems at Homestore, including Peter Tafeen, the company’s former executive vice president of business development who pleaded guilty in March to one count of securities fraud and organizing fraudulent advertising transactions through which Homestore artificially inflated its revenues.

The SEC and U.S. Justice Department in April 2005 announced criminal and civil cases against Wolff and Tafeen.

For more Inman News coverage of the Stuart Wolff trial, see “Wolff testifies in his own defense,” “Defense takes turn in Wolff trial,” “Former Homestore CFO testifies against Wolff,” “Chickenpox delays Wolff trial,” “Sixth witness testifies in Stuart Wolff trial,” “Ex-Homestore CFO testifies against Wolff,” and “Trial begins for former Homestore exec.”

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription