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Stargate Games Lawsuit

Former shareholders in Cheyenne Mountain Entertainment have filed a conspiracy complaint against Dark Comet Games, Fresh Start Studios, and five individuals: Karl Hiatt and his wife (first name unknown), Mark Renberg, Chris Lombardo, and Harlan James Brown II, according to Courthouse News Service. The legal action is over Cheyenne Mountain Entertainment's bankruptcy, and claims that the transfer of assets from Stargate Resistance and Stargate Worlds was done without the approval of the bankruptcy court. The plaintiffs say "Fresh Start Studios allegedly paid $100,000 to purchase all of Cheyenne Mountain's assets, a fraction of 1 percent of the assets' worth," and that CME "raised and expended tens of millions of dollars in connection with the development of Stargate Resistance and Stargate Worlds." Word is: "Plaintiffs seek a declaration that the transfer of assets to Fresh Start is fraudulent, and want the assets returned Cheyenne Mountain Games. They also want $10 million in damages, alleging breach of contract, civil conspiracy, fraudulent transfer, tortious interference and unjust enrichment."

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4. Re: Stargate Games Lawsuit Aug 26, 2010, 15:49 DG
 
The complaint isn't about the investors losing their money on a bad investment, it's about their money being stolen through fraud.

1. Use investor's money to make a valuable asset for company A
2. Sell asset for small change to company B you own personally
3. Liquidate the original company A
4. Profit

This is a common fraud. It's not a very difficult idea for people with weak ethical values to come up with, it's quite difficult to prove and even even if you do and get your asset back, it's even harder to successfully prosecute the fraudster.
 
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