11/24/2004

Lawsuit filed against The CyberNET Group

Doesn't mention election fraud - I gotta dig this further -- law

WOODTV.com & WOOD TV8 - Grand Rapids news and weather - Lawsuit filed against The CyberNET Group in Grand Rapids

Grand Rapids, November 19, 2004, 6:01 p.m.) A lawsuit has now been filed against a Grand Rapids Internet company after federal agents raided the building.

On Wednesday, federal investigators shut down The CyberNET Group on South Division Avenue and locked employees out. Sources tell 24 Hour News 8 that investigators were looking for evidence of wire, mail, and bank fraud. They hauled away computers and financial records linked to the company.

Employees returned to work Friday for the time since the raid. They entered through a backdoor of the world headquarters facility on South Division Avenue.

Now 24 Hour News 8 has obtained copies of a lawsuit filed Thursday against CyberCo, the parent company of The CyberNet Group. Fraud is one of the allegations outlined in the lawsuit.

In the lawsuit, Charter One Vendor Finance of Illinois says it loaned The CyberNET Group $3 million so the company could buy 66 computer servers. But in the lawsuit, Charter One said it could only find evidence of 25 servers at the company's Grand Rapids' headquarters, and The CyberNET Group could not provide an explanation. Charter One believes The CyberNET Group misused the loaned money and used false information to secure the loan.

Charter One says in the lawsuit that The CyberNET Group CEO Barton Watson has a longstanding and uninterrupted history of perpetrating fraud.

Barton Watson was not around during the raid, not in his office, or not at his million dollar home in Ada. He served time in prison in 1984 after a federal judge sentenced him to one to three years for fraud.

After prison, Watson went on and found The CyberNET Group, an international Internet company. Since the federal raid and subsequent news reports, 24 Hour News 8 has been flooded with e-mails and calls from former employees, alleging years of misconduct.

1 Comments:

Anonymous Anonymous said...

Check it out. Own a piece of the Cybernet fraud.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MESELX:IT&item=180284751791

9/02/2008 01:37:00 PM  

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