Thanks Cole, this is a shocking new development.
Monterosso, Vargas and GlobeTel executives devised an ‘off-net’ revenue program. According to the Complaint, this program allowed the generation of revenue from telecom traffic that did not pass through the switch in Los Angeles that was owned by Monterosso and controlled by Centerline. In other words, according to the SEC, GlobeTel executives, allegedly along with Monterosso and Vargas, sought a way to “generate” revenue even though it was not providing services through its switch. According to the Complaint, GlobeTel then recorded and reported this revenue.
But really no surprise at this point.
HARD CONFIRMED!!!!!!!
