-Caveat Lector-
And then there's the rumor (still awaiting confirmation) of a prominent
Fortune 500 CEO busted for pedophilia last month -- a fact never publicly
reported, thanks to the intervention of Wall Street, worried about what
effect news of his arrest might have on the Dow Jones right now ...
(An illustration of the ruthlessly amoral face of "insider trading" at
the TOP?)
Infoseek Executive Arrested by FBI in Sex Sting
Los Angeles, Sept. 20 (Bloomberg) -- An Infoseek Corp. executive who has
overseen Walt Disney Co.'s Go Network online site was arrested last week
after allegedly soliciting sex on the Internet from an FBI agent posing as a
13-year-old girl.
Patrick Naughton, executive vice president of products at Infoseek, Disney's
partner in the Go Network, was taken into custody on Thursday in Santa
Monica, California, where he had planned to meet the girl, who turned out to
be an undercover agent for the Federal Bureau of Investigation.
The arrest is an embarrassing blow to Disney and the wholesome,
family-friendly image it presents to the public. It comes as Disney plans to
buy the rest of Infoseek that it doesn't already own, combine it with its own
Internet assets and create a stock to track the new company's performance.
Naughton was in charge of all content for the Go Network and was to be a part
of the team leading Go.com, which will include such sites as Disney.com and
Family.com.
Sunnyvale, California-based Infoseek said Naughton is no longer an employee.
The company declined to say whether he was fired or resigned as a result of
the arrest. Disney declined to comment, referring calls to Infoseek.
Naughton couldn't immediately be reached to comment.
He had been an employee of Starwave Corp., which develops Web sites including
ESPN.com, when Disney bought Starwave. Starwave was later traded to Infoseek
as part of Disney's initial investment in the company.
Naughton, 34, who lives in Seattle, was charged with interstate travel with
the intention of having sex with a minor, according to a criminal complaint
filed in U.S. District Court in Los Angeles.
100,000 Bond
Naughton was released after agreeing to pay $100,000 if he fails to appear in
court for scheduled hearings. He also agreed to make a 15 percent cash
deposit on the bond within one week from last Friday, said Thom Mrozek, a
spokesman for the U.S. Attorney's Office in Los Angeles.
Naughton is scheduled to appear at a preliminary hearing on Oct. 7, though
that hearing may be canceled if he is indicted before then. His arraignment
hearing is scheduled for Oct. 12, Mrozek said.
Using the name ``hotseattle,'' Naughton allegedly began posting lewd messages
in early March in an Internet chat room regularly used by adult males seeking
minor girls for sex. He began corresponding with a male FBI agent posing as a
13-year-old girl, according to the complaint.
Naughton allegedly told the agent on the Web site that he was chatting on his
computer from his office and that he ran a company. Naughton also allegedly
told the agent that he was chatting with a couple of other girls and had
planned to meet them.
He was taken into custody at the Santa Monica Pier, a crowded area at the
beach with an amusement park and other attractions for children.
Mrozek said Naughton was part of a larger investigation by a multiagency task
force known as Sexual Assault Felony Enforcement that involves local, state
and federal law enforcement offices.
Infoseek shares fell 1 to 27 3/4, while Disney fell 1/16 to 28 3/16.
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