Nerd, I don't make up the way people think. "Guilt by association" (unfortunately) does occur.
For example, let's say one of your best friends is a drug dealer. Of course you didn't know he was a drug dealer but other people consider it common knowledge. Do you think those other people (after seeing you hang around with this guy a lot) wouldn't think you might be involved in either taking drugs or selling drugs? Even if you weren't, it might be percieved that you were.
And let's face it, considering the facts of the case the SEC has brought against Globetel, it makes that collaboration seem even more suspect.
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