Westlake Village’s Stuart Wolff to Serve 4+ Years in Security Fraud Fracas

A US District judge sentenced a Westlake Village businessman to four and one-half years in federal prison for his part in a plan to commit security fraud.

Stuart Wolff of Westlake, former CEO and chairman of the board of Homestore .com, was accused of scheming to inflate the publicly traded company’s advertising revenue to make it appear more profitable to stock analysts.

US District Judge Gary A. Feess ordered Wolff to start serving his sentence by June 21 following Wolff’s guilty plea in January to one count of conspiracy to commit securities fraud.

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