UPDATE: Shortly after Barry Ritholtz published the story below, FOX dismissed it as ridiculous. Now that months have passed, it seems safe to conclude that it was, in fact, ridiculous. (Roger Ailes was not indicted, and Judith Regan's allegations disappeared without a trace.)

EARLIER: Last week it was revealed that legendary FOX News boss Roger Ailes allegedly told underling Judith Regan to lie to federal investigators to protect Rudy Giuliani.

Regan reportedly has a tape of the telephone call in which Ailes urged her to do this.

If this story is true, and the telephone call is clear, Ailes would obviously be exposed to obstruction-of-justice charges.

And now the scuttlebutt is that Ailes will in fact be indicted.

Here's financial commentator Barry Ritholtz:

Someone I spoke with claimed that Ailes was scheduled to speak at their event in March, but canceled. It appears that Roger’s people, ostensibly using a clause in his contract, said he “cannot appear for legal reasons.”

I asked “What, precisely, does that mean?”

The response: “Roger Ailes will be indicted — probably this week, maybe even Monday.”

If the scuttlebutt is true, THIS will be the trial of the century.

NEXT: News Corp's Statement Defending Roger Ailes Is Very Weak

Here's the backstory...