The former owners of an Arizona software company have each been sentenced to serve five years and 10 months in federal prison related to a lengthy scheme that defrauded investors out of $5 million.
Court documents show that the Feinbergs operated Catharon Software Corp. that was related to a similar business the couple started when they lived in New York before relocating to Arizona. Documents show they operated the business out of a home in Sedona from 2002-2013. They alleged that the software would generate revenue of $2 billion within three years, promising investors returns of anywhere between 400% and nearly 2,300%.
In a pre-sentencing note to the court through their attorney, the Feinbergs said they were relying on the company's software programmers to inform them of their progress on developing the product but were given inaccurate information that they in turn conveyed to investors.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Jack Daniel's, Arizona pet toymaker square off in Supreme Court in trademark fight - Phoenix Business JournalThe Supreme Court will decide whether an Arizona manufacturer of pet toys infringed on Jack Daniel’s Old No. 7 trademark with its Bad Spaniels Old No. 2 squeaky toy for dogs.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
New master-planned residential community with 2,600 units proposed south of Phoenix - Phoenix Business JournalAs more companies make plans to build in Pinal County, more housing is needed to support the growth of workers and people moving to the region. Here are the details on a new project being proposed in the small city of Eloy.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
Small-business owners banking on big Black Friday, Cyber Monday - Phoenix Business JournalWith economic storm clouds looming, small-business owners are banking on a strong Black Friday, Cyber Monday and Small Business Saturday. New data offers good news on that front.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
Coming Soon: The Big Credit Squeeze - Phoenix Business JournalAs the Federal Reserve tries desperately to bring down the rate of inflation, consumers are using a previously-used tactic to finance and offset higher costs – credit. The question is will they be able to pay back their debts?
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
Optima McDowell Mountain Village receives approval from Scottsdale City Council - Phoenix Business JournalCity documents show that Optima looks to start on construction as soon as possible after being given the green light from Scottsdale City Council. phoenix
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
SBA to award remaining Restaurant Revitalization Fund grants after pressure campaign - Phoenix Business JournalFollowing a months-long pressure campaign by business groups and lawmakers, the SBA plans to award millions in unused Restaurant Revitalization Fund grants. Here's what businesses need to know.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »