Federal regulators on Monday said eight former executives of AOL Time Warner Inc. fraudulently inflated the company’s online advertising revenues by more than $1 billion between 2000 and 2002.
Four of the executives have agreed to settle the civil charges brought by the Securities and Exchange Commission by paying a total of roughly $8 million in fines and returning allegedly ill-gotten gains. They are David Colburn, Eric Keller, Jay Rappaport and James MacGuidwin, who was controller of the media company. The other three were in its business affairs unit.
