LOS ANGELES (AP) — The former CEO and chairman of Homestore.com has agreed to plead guilty in a scheme to inflate the company’s revenue to impress Wall Street analysts.
The U.S. attorney’s office said Thursday that 46-year-old Stuart Wolff faces a prison sentence of three to five years. He’ll plead guilty to conspiring to commit securities fraud.
A jury convicted Wolff in 2006 of more than 12 criminal charges and was sentenced to 15 years in prison. The 9th U.S. Circuit Court of Appeals overturned the conviction, ruling that the trial judge should have been recused.
Eleven other defendants have been convicted in the case.
Homestore.com, now known as Move, Inc., provides real estate listings and related services on the Internet.