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24 Nov 2004
By AccountancyAge.com
The huge fine would be dished out as recompense for accounting irregularities at the company's internet arm, America Online, which were used to boost profits.
AOL paid $100bn for Time Warner at the height of the dot com boom, but problems soon came to light and several executives were ousted as a result.
The fine would equal that handed to WorldCom and is beaten only by the $1.1bn settlement deal paid by Prudential in the 1990s.
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