According to an article in today’s Times Union, two former top execs of Wurld Media have been indicted on a number of charges ranging from misdemeanor failure to pay benefits to felony grand larceny and money laundering.

Gregory Kerber, former Chief Executive and Richard Saxton, former financial officer were each arraigned on nine charges.

Assets of Wurld Media, an online music and video file-sharing company, were sold to ROO Media for $4.3 million in in July, however most of the alleged charges took place before that deal was signed.

According to Mediapost, Roo bought “strategic P2P assets of Wurld Media,” for $4.3 million, consisting of $3.2 million in cash and the issuance of approximately 655,000 shares of ROO common stock.

While it doesn’t appear (at this point) that there’s anything for Roo to be concerned with here, they certainly don’t need any negative publicity or associations while they struggle to turn things around. Last month they reported net operating loss of approximately $8.5 million in the third quarter of 2007.