Ex-Homestore Execs Plead Not Guilty

The former chief executive and a senior executive of once-highflying Internet company Homestore.com pleaded not guilty to charges of defrauding investors by inflating advertising revenue at the real estate firm.

Investigators claim former Chief Executive Stuart Wolff misrepresented the company’s financial condition to Wall Street analysts and investors.

Peter Tafeen, a former executive vice president at the Westlake Village company, is accused of orchestrating transactions in which Homestore recognized its own cash as revenue and hid that from auditors. The company is now called Homestore Inc.