Yes, failed porn media mogul Stephen Brown started his first conference call and the emerging conference with a story claiming:
- Vident success
- $100M capital raise, $20M from Roth Capital
- 150 employees
- sales to Clear Channel in 2003/2004
Then he went on to ask potential and current investors to make buy/sell decisions based on his reputation... which he proceeded to fraudulently tell them was something different.
He in fact left Vidnet mid 2000, the company was shut down basically, riddle in debt, company sued him because he took money out and didn't pay it back, sued his co-founder, board tried to take control in 1999, never raised even $20M let alone from just Roth, and didn't get sold to Clearchannel in 2004.
Failed porn media mogul Stephen Brown's hot headed response admitted his story, told to encourage buying of company stock, was fraudulent and untrue. This will be such a fun legal situation for the fail porn media mogul.
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