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Facebook IPO fallout: Citigroup fined million | NDTV Gadgets

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Facebook 'owner' arrested for fraud


A New York man was arrested on Friday on charges he forged documents in a multibillion-dollar scheme to defraud Facebook and its chief executive, Mark Zuckerberg, through a lawsuit claiming a huge ownership stake in the internet company.

Paul Ceglia, 39, a one-time wood pellet salesman from Wellsville, New York, was charged with mail and wire fraud over what federal prosecutors and the US Postal Inspection Service said was fabricated evidence to support his claim to a large stake in Facebook through a 2003 deal with Zuckerberg.

Ceglia's accusations against Zuckerberg had marked a bizarre twist to Facebook's march toward its highly anticipated initial public offering in May. Facebook's origins were also the focus of a separate legal challenge by Zuckerberg's Harvard University classmates, the twins Cameron and Tyler Winklevoss, in a saga chronicled in the 2010 film, "The Social Network."

Ceglia sued the Silicon Valley company and its chief executive in 2010, claiming that a 2003 contract he signed with Zuckerberg entitled him to a stake in the social media network. Zuckerberg had done programming work for Ceglia's company, StreetFax.com, while at Harvard University.

This past March, as part of that case, Facebook attorneys released emails sent by Zuckerberg to show Ceglia's claims were false. The attorneys cited work by forensic experts who found that Ceglia had typed text into a Microsoft Word document and declared it was the text of emails with Zuckerberg.

Ceglia sought "a quick pay day based on a blatant forgery," US attorney Preet Bharara in Manhattan said in a statement announcing the criminal charges. "Dressing up a fraud as a lawsuit does not immunise you from prosecution."

A lawyer for Ceglia could not immediately be reached for comment.

"Ceglia used the federal court system to perpetuate his fraud and will now be held accountable for his criminal scheme," Orin Snyder, a partner at law firm Gibson Dunn who is representing Facebook and Zuckerberg in the civil case, said in a statement.

Partnership claims

In his lawsuit, filed in federal court in Buffalo, New York, Ceglia had claimed that Zuckerberg shared his plans for a social networking site with him while working at StreetFax. He contended that their contract granted him part ownership in Zuckerberg's project in exchange for a $1,000 investment.

To build his case, Ceglia submitted what he said were emails from Zuckerberg that proved the pair had discussed the project that would eventually become Facebook.

But Zuckerberg said he had not even conceived of the idea for Facebook until December 2003, and submitted his own emails to prove his version of the timeline.

Ceglia went through a string of lawyers from prominent firms, including DLA Piper and Milberg, who worked with him on the case but later withdrew.

Ceglia was arrested at his home on Friday morning and appeared in federal court in Buffalo in the afternoon. In the hearing, a federal judge set bail at $21,000 and stayed the bail order until Monday at noon to give prosecutors a chance to appeal it, authorities said.

Each of the charges against him carries a maximum sentence of 20 years in prison.

Investigators for the Postal Inspection Service, which is conducting the probe, made the arrest following Ceglia's return to the United States this week after spending time out of the country, according to a source familiar with the matter who was not authorised to speak publicly on the case.

The judge in Friday's hearing ordered Ceglia and his family to surrender their travel documents.

Separately on Friday, Massachusetts fined Citigroup $2 million to settle charges that two bank analysts improperly released confidential information about Facebook's financials before the technology company went public.

The case is USA v Paul Ceglia, US District Court, Southern District of New York.


Facebook 'owner' arrested for fraud - The Times of India
 
I guess facebook website will be effected now !!

 
ya , its now near to its end and the onwer mark was also planning to be a person of microsoft as a plan B
 
Facebook testing single column Timeline layout

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Facebook is testing out a new, slimmer Timeline layout featuring a single column of posts instead of the current double column. The test layout keeps the boxes that highlight friends and activities to the right.

The social network is currently rolling out the test, first noticed by Inside Facebook, to a small number of users.

"This is a new design Facebook is testing with a small percentage of people to make navigating timeline even easier," a Facebook spokeswoman told CNET.

When Timeline was first introduced, it prompted mixed reviews from users, with some hating the change. But really, any changes to the social network's design seem to send folks into a frenzy.

This news, however, may actually make some users happy since they won't have to look back and forth between the columns when looking at posts. The layout eliminates the timeline format, removing the line separating the columns, but keeps the bar of dates to the right of the right column for browsing through posts from different years and months.

The right hand column keeps the existing boxes such as "Recent Activity," "Friends," "Photos" and "Likes," as well as any app activity displayed by users. But with the new design, the boxes are a smaller size than posts. Below those boxes, the test design features only whitespace where the current design would display more posts.


Facebook testing single column Timeline layout - CBS News
 
Waiting for this, hope some improvement.
 
Dabangg 2 teaser released on Facebook

NEw DELHI: The much-awaited look of " Dabangg 2" was unveiled on Salman Khan's official Facebook page and the star says this is to cater to new generation which follows movie news on new media.

Salman, whose Facebook profile has got 6.8 million likes, says he will also use traditional medium to promote his movies.

"There is a new generation following movie news on new media, so we launched the campaign on Facebook. We will continue to use traditional media. It's not about one replacing the other. It's one alongside the other," Salman said in a statement.

Directed by Arbaaz Khan, "Dabangg 2" is a sequel to 2010 blockbuster "Dabangg" and also stars Sonakshi Sinha and Deepak Dobriyal. It will hit theatres Dec 21.

The 10-second-teaser, which was unveiled Nov 7, just shows Salman with his trademark shades. While another teaser, which will also be released on Facebook.com/BeingSalmanKhan Nov 10, will give a sneak peak into the movie.

http://timesofindia.indiatimes.com/...released-on-Facebook/articleshow/17170709.cms
 
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