By Newsweek itself

The founder of the media company that owns Newsweek has stepped down as chairman two weeks after investigators raided the company’s headquarters as part of a long-term financial fraud probe.

Etienne Uzac, co-owner of Newsweek Media Group, is joined by his wife, Marion Kim, the company’s finance director, who will also step down, the company said.

The announcement comes amid an ongoing grand jury investigation by the Manhattan District Attorney’s office that started at least 17 months ago and appears to include an examination of the company’s finances, according to sources familiar with the matter.
Sounds like good stuff!!!