The plight of media giant, AOL Time Warner has deepened with news that its accounting practices are to be investigated by the US Department of Justice.
The announcement comes only a week after the Securites and Exchange Commission (SEC) launched a similar inquiry following allegations of malpractice at the AOL internet service (see
AOL Time Warner Under Accounts Scrutiny).
The latest development has raised the possibility that the federal government will issue subpoenas and press criminal charges against the beleagured corporation. AOL Time Warner has defended its accounting practices but promised to co-operate fully with both both inquiries.
