Stuart Wolff to plead guilty

Plea agreement calls for 3- to 5-year prison sentence

Former Chairman and Chief Executive Officer Stuart Wolff has agreed to plead guilty to one count of criminal conspiracy to commit securities fraud for his alleged role in a scheme to artificially inflate Homestore’s revenue in 2001.

A plea agreement signed by Wolff Jan. 7 calls for him to spend between three and five years in prison, and pay restitution to be determined by the judge assigned to oversee his retrial, which was set to start Jan. 26. Wolff is now scheduled to enter a guilty plea at a court hearing tomorrow.