SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Moufassa's Lair
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Tradelite who wrote (4471)2/5/2002 5:01:28 PM
From: Tradelite  Read Replies (1) of 13660
 
Apparently we've been giving Enron too much credit as being #1 for fraud, deception and accounting creativity.

The following is from class-action lawsuit documents involving HOMS (Homestore.com):
____________________
As part of their effort to boost the Price of Homestore stock, defendants misrepresented Homestore's true prospects in an effort to conceal Homestore's improper acts until they were able to sell at least $27.9 million of their own Homestore stock.

In order to overstate revenues and assets in (six quarters), Homestore violated Generally Accepted Accounting principles and SEC rules by engaging in improper "roundtrip" transactions. These transactions had the effect of dramatically overstating revenues and assets. This came to an end (though unbeknownst to the public) in the Company's 3Q 01, as the Company's main roundtrip partner stopped doing these transactions with the Company.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News