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Justice investigates aol Original Source Link: (May no longer be active)    http://www.usatoday.com/usatonline/20020731/4320703s.htm http://www.usatoday.com/usatonline/20020731/4320703s.htm Page 1A Justice investigates AOL accounting Probe joins SEC's already in progress By David Lieberman USA TODAY NEW YORK -- The Justice Department has opened an investigation into accounting practices at AOL Time Warner, according to a person knowledgeable of the probe. U.S. prosecutors in Virginia, where the company's America Online division is headquartered, are working in tandem with the Securities and Exchange Commission. Last week, AOL Time Warner disclosed that the SEC is looking into certain transactions at the company's Internet division. CEO Richard Parsons said his company is cooperating with the SEC. An AOL spokesman would not say whether the company is aware of the new investigation, but he adds that it is ''not under any subpoena from the Justice Department.'' The company also says, in a prepared statement Tuesday, that ''if the Justice Department wants to look at the facts, of course we will cooperate with them too, as we would with any other appropriate government agency.'' The Justice Department does not comment on investigations. But the new investigation could prove to be distracting for AOL. SEC investigators handle civil violations of securities law and can only issue subpoenas with the approval of the full commission. By contrast, Justice Department attorneys can look broadly at possible criminal acts, and they have the authority to issue subpoenas. The department also is eager to do its part to restore confidence in U.S. financial markets, which have been shaken by high-profile accounting scandals. On Tuesday, President Bush signed a law that imposes new penalties on executives who ''fudge the books.'' Investigators in the AOL case are believed to be focusing on accounting questions raised by a recent Washington Post study. The newspaper said America Online had, among other things, booked revenue from ads sold for eBay and renegotiated long-term advertising contracts to recognize revenue more quickly. In its statement, AOL said, ''Our accounting is appropriate and in accordance with generally accepted accounting principles, and our auditors, Ernst & Young, have repeatedly confirmed that.''

100b losses { January 29 2003 } Accounting appropriate { July 18 2002 } Aol boss sold shares Aol discloses sec probe { July 25 2002 } Aol exec Aol hard to cancel { September 24 2003 } Aol losses 1m subscribers { June 4 2003 } Aol plans big cuts { January 10 2003 } Aol probe continues { March 29 2003 } Aol purchasepro fool investors { September 24 2003 } Aol subscribers down 846 000 { July 24 2003 } Aol time warner eliminate aol from name Aol tw blackhole { April 29 2002 } Aol tw sells 2bil Case quits { January 13 2003 } Crimimal probe { August 1 2002 } End of 2004 loses 646 thousand subscribers { December 7 2004 } Fbi continues aol probe Justice investigates aol Levin aol More sec probing { April 22 2003 } Oust case { September 17 2002 } Profits to plunge Steve case showdown { July 21 2002 } Time warner drops aol name { October 13 2003 } Turner fights case Turner levin aol { June 4 2002 } Turner retired Turner sold 5m { February 7 2003 } Turner take aol { September 18 2002 } Turner un { November 20 2001 } Unconventional { July 18 2002 } Wheres steve case { July 19 2002 } Wont rebound till 2004 { December 4 2002 } Files Listed: 34

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