Former Media Buying Agency Execs Convicted Of Fraud

Two former executives of radio and TV ad buyer FOCUS MEDIA have been convicted on charges they ripped off clients out of $35 million.

Former Chairman/CEO THOMAS RUBIN and CFO THOMAS SULLIVAN were found guilty TUESDAY by a federal jury on 25 and 27 counts, respectively, of mail fraud, conspiracy, money laundering, wire fraud, and bankruptcy fraud; they were accused of charging clients over $45 million but only paying $10 million for ads and pocketing the rest. Attorney GEOFFREY MOUSSEAU, appointed by a bankruptcy court to preserve leftover assets, was found guilty of conspiracy in helping RUBIN and SULLIVAN.

Sentencing for all three men is scheduled for OCTOBER.

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