LA Biz Observed: Alleged fraud outlined

Alleged fraud outlined

Mark Lacter • Bio • Email

Nikki Finke provides some details on the indictment of Hollywood producer Drew Levin, who was fingered in an alleged scheme to inflate the revenue and stock price of Team Communication, the company he heads and founded. It's a 13-count federal indictment that includes charges of conspiracy, falsifying records, making false statements in SEC filings, and giving false testimony in a deposition. Levin is expected to surrender to authorities on Friday. If convicted on all counts, he faces a maximum penalty of 200 years, though that will never happen. Still, we could be talking some serious jail time. A former managing director of Team's British subsidiary pleaded guilty to one count of conspiracy for assisting Levin in the alleged scheme. Levin is an Emmy- and Cable Ace-award winner. (DHD)

10:25 AM Thursday, March 20 2008 • Link
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