‘Phantom’ video game CEO charged
Tim Roberts, the former CEO of a Seattle-based video game company, has been charged with artificially inflating his company’s stock price while he sold personal shares, commonly referred to as a pump and dump scheme. The article even talks about how hardware enthusiast site Hard|OCP won a court case against Infinium Labs that may have helped investers from taking the bait. A great read and a thumbs up to Chris Morris and Kyle Bennett for giving the public the truth.
The Securities and Exchange Commission on Tuesday accused Timothy Roberts of hiring a promoter to send junk faxes to tens of thousands of investors across the country, making it appear Infinium Labs was on the verge of launching a new gaming system, dubbed “The Phantom”. Infinium, in actuality, had postponed the system’s launch due to insufficient resources. It has yet to launch.
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