Cases of Ex-CFOs in Legal Trouble Wrapped Up

07.09.2011

The commission had sued eight former AOL executives in 2008, including Kelly and another former chief financial officer, Joseph Ripp, claiming they helped inflate revenue at the company by more than $1 billion from 2000 to 2002.

In a judgment signed by U.S. District Judge Colleen McMahon in Manhattan, Kelly agreed to turn over $200,000 in profits he allegedly made from the scheme and pay a $60,000 penalty.

AOL had agreed in 2005 to pay $300 million to settle a related investigation.