Industry Source Consulting Inc (INSO)

[cygnus_1]

Beware of this guy
At the time, Molen was in the middle of a personal bankruptcy action. He hadn't paid taxes since 1988 and had debts totaling $2.5 million. He listed a mere $6,200 in assets — including $800 in cash, $200 in clothing, and $5,000 in household goods.

Molen also owed several investors personally for loans they'd made to him. Jay Pontrielli, an Atlanta lawyer who represented one of Molen's investors, says it took ten years to recoup a $30,000 loan his client made to Molen — and it was Molen's father who settled the debt. The investor, William J. Wager, died during the litigation.

"We had to chase Molen down for several years and then several more years after we got a judgment," Pontrielli says. "It seemed to the people he was able to raise money from that he had a persuasive business plan for this whole stratellite thing... He's left a trail of frustrated creditors chasing after him."

But Molen counters that only a few investors have "made his life miserable." He still thinks his stratellite idea was good. "I wouldn't say that the business plan was a pipe dream," he says in a telephone interview. "In any business, you find investors who believe in ideas.

"We built something from nothing and sold those assets to another company, and they've taken that and run with it. It's not a scam. And it's offensive to hear that."
http://www.browardpalmbeach.com/2007-02-22/news/beam-me-up/1
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