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Newsweek's parent company pleads not guilty to fraud

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Newsweek’s mum or dad corporate IBT Media pleaded no longer responsible in New York on Thursday to fees that it manipulated price range to be able to stay the mag operational.

The fees from the Big apple District Legal professional’s workplace come with fraud, cash laundering and falsifying data, and element a scheme to borrow cash for laptop apparatus that was once then funneled to Newsweek.

The indictment accuses two people — William Anderson, the CEO of Christian Media Company, and Etienne Uzac, the co-owner and chairman of IBT Media — of getting hatched a fraudulent plan that incorporated an auditor named Karen Smith, whom the indictment stated government may just in finding no proof of.

TIME Magazine Cover With President Donald Trump - Newsweek Magazine Cover With President Vladimir Putin
Copies of TIME and Newsweek magazines sit down in a rack at a Hudson Information bookshop April 23, 2018 at Raleigh Global Airport.Robert Nickelsberg / Getty Photographs record

The lawsuit additionally names Christian Media Company, which allegedly attempted to procure loans for corporate servers, and Oikos Networks, the company used to procure the servers.

Uzac defended himself in an a post to his Twitter account.

“I consider this very competitive investigation is fueled by way of retaliation in opposition to me and my information media corporate for having exposed that that Big apple District Legal professional Cyrus Vance Jr. declined to press fees in opposition to Harvey Weinstein after his legal professional paid Vance cash,” Uzac wrote.

Marc Agnifilo, a legal professional for Uzac, stated his consumer denies the allegations and that the mortgage in query have been paid again.

A choice to Anderson’s legal professional was once no longer instantly returned.

Newsweek laid off body of workers this previous 12 months, together with an editor who oversaw an investigation into why the inside track corporate’s servers have been seized by way of the federal officers. IBT Media has since spun off Newsweek right into a separate corporate.

The Wall Boulevard Magazine was once first to file the inside track of the costs.

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