Etienne Uzac, then owner of IBT Media, in 2014 when IBT Media owned Newsweek.

The Manhattan Prosecutor's Office seized 18 computer servers from the headquarters of Newsweek magazine in Lower Manhattan on January 18, 2018. On Friday, two Manhattan Criminal Court executives were found guilty of fraud and money laundering during the raid.

Etienne Uzac, a former co-owner of IBT Media, the former owner of Newsweek, and William Anderson, a former managing director of Christian Media, both pleaded guilty to indicting every charge, said Manhattan District Attorney Cyrus R. Vance Jr.

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Recognition…Chester Higgins Jr./ The New York Times

The pleas followed a year-long investigation into the relationship between IBT Media and David Jang, a South Korean pastor, and Olivet University, a small Bible school he founded in Southern California.

Newsweek was founded in 1933 as a weekly newspaper against Henry Luces Time. In 1961 it was bought by the Washington Post Company. At its peak 30 years later, it had a circulation of more than 3.3 million. In 2007 it had 10 international offices.

In 2010, the Washington Post Company outsourced it to billionaire Sidney Harman for $ 1, who also assumed $ 40 million in liabilities. He merged it with The Daily Beast, the IAC web publication. Newsweek was sold to IBT Media at an undisclosed price.

The trial of Mr. Uzac and Mr. Anderson is scheduled for April 20.