Vindication is coming truth-seekers…
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Newsweek appears to be in much deeper trouble than previously thought in a wide-ranging fraud probe by the Manhattan District Attorney’s office, according to the Wall Street Journal.
A suspicious loan application from Newsweek’s parent company two years ago helped trigger the probe into suspected bank fraud, advertising fraud, and ties between parent company Newsweek Media Group and a California bible college.
The publication’s New York offices were raided on January 18 in connection with the probe, while dozens of employees and three top executives have left the publication amid its rapid unraveling. Editors, meanwhile, went nuclear on a Newsweek executive in a leaked call earlier this month.
During the 90 minute recorded meeting between CCO Jonathan Davis and editors, Davis was repeatedly asked about alleged criminal behavior by parent company Newsweek Media Group.
“So you should be honest with everybody in this room: Are we running a money laundering operation? Are we evading taxes? You need to tell us that because we can’t work here if you’re a liar.” –Daily Beast
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