It is not the goofs of the last four years. It is the crimes preceding the last four year.
Barry Henthorn resigned in February of 2009, leaving behind $1.2MM in debts, including almost $250K in payroll liabilities and penalties. Also including nearly $50K in bank overdrafts in several banks for which the company got sued and lost in court.
During 2008, he was provided by investors with more than $600K to pay the payroll liabilities and content acquisition. He did neither. He pilfered the monies instead.
When MF took over, who quickly handed the banner to JG at the behest of Gershuny and Zaslow, they quickly found out that there was no money and that the movies were no longer under contract.
When they requested the company records from Mr. Henthorn, they were given highly incomplete files via Lovejoy. These files, however, contain enough information to make a clear determination about the frauds and misappropriation of funds.
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