EarthLink founder guilty of operating a Ponzi scheme

blitz blitz at macronet.net
Wed Mar 27 21:54:52 UTC 2002




LOS ANGELES – The co-founder of EarthLink, one of the nation's
                    largest Internet providers, agreed yesterday to plead 
guilty to operating a
                    Ponzi scheme that involved $593 million and 800 
investors, including
                    celebrities.

                    Reed Slatkin acknowledged in court documents that he 
was responsible
                    for $254 million in losses and agreed to plead guilty 
to mail fraud, wire
                    fraud, money laundering and obstruction of justice 
charges.

Full story here:
http://www.uniontrib.com/news/business/20020327-9999_1n27ponzi.html




Like we didn't know?




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