WASHINGTON DC -- The FTC and Facebook have reached an agreement on the fraud charges made against Facebook.  Initially in 2009 Facebook indicated that a user could choose to make their personal information private, however, documentation indicates that Facebook made the information public and sold it.

In a post on Facebook, Facebook CEO Mark Zuckerberg said the company has made a "bunch of mistakes, but typically has profitted greatly from them."

The agreement will force Facebook to pay $10,000 in fines, but they don't have to admit to committing any fraud or wrong doing.  Additionally, Facebook will have to promise not to commit the crime again, however they are not legally bounded to do so.

The spokesperson for the FTC noted, "This is a triumph for consumer's rights in the market place" before quitting to work as an advisor for Facebook.