Jeffrey M. Kalina, a former member of the finance department of Homestore Inc., has agreed to plead guilty to securities fraud. He also agreed to assist investigators in their probe into Homestore’s accounting and its deals with AOL Time Warner and Cendant Corporation, the travel and real estate services company, according to people involved in the inquiry.

Mr. Kalina admitted to participating in schemes that were intended to disguise transactions that inflated the revenue of both Homestore and its business partners. The Information Mr. Kalina provides will increase pressure on Homestore’s former chief executive, Stuart H. Wolf, and Peter Tafeen, who was in charge of business affairs.

(via New York Times)