AOL Time Warner probe widens
WinInfo | at | by Mike
AOL Time Warner revealed Wednesday that the US Department of Justice (DOJ) is investigating the company's accounting practices, raising the possibility of criminal charges. The DOJ investigation of the world's largest media company comes just weeks after the corporate accounting scandals at Enron, WorldCom and other firms rocked the financial world, raising calls for widespread reform. AOL was already being investigated by the Securities and Exchange Commission (SEC) for potentially illegal bookkeeping practices, but the sudden involvement of the DOJ suggests far more serious problems exist than were previously suspected.