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Infinium Labs in Trouble Again 35

Posted by Zonk
from the over-and-over-again dept.
sm4kxd writes "Eurogamer is reporting that Infinium Labs is being investigated by the SEC. Apparently the SEC is particularly interested in the dealings of the company under previous CEO Tim Roberts, and are going so far as to file charges against Tim himself. The exact charges have not been revealed; Infinium believes it has to do with a 'recent SEC enquiry into phony fax scams, where penny stocks were illegally advertised to investors. The SEC also claims that Infinium did not keep accurate payroll and tax records during Roberts' reign, and owes fines and interest payments to the tune of USD 1.2 million.' It seems the more that is spoken of the Phantom, the more evidence there is that it is the most appropriately titled console in history."
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Infinium Labs in Trouble Again

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  • Re:Obvious (Score:2, Interesting)

    by BushCheney08 (917605) on Wednesday November 02, 2005 @04:21PM (#13935062)
    I remember seeing an article a week or so ago about mob ties for the Gizmodo people. I can't seem to find anything about Tim Roberts and the mob. Do you have a link?
  • this is sad (Score:2, Interesting)

    by clackerd (797052) on Wednesday November 02, 2005 @04:27PM (#13935118)
    ok, i'll admit it: i bought an atari lynx and a jaguar when they came out. i root for the underdog, almost to the point of throwing away money on inferior stuff. (i still play the lynx sometimes... i know, i know...) i am always looking for that hidden gem of a game or some advanced feature the other guys hadn't thought about just to expand my horizons. however, those early hard-ocp articles http://www.hardocp.com/article.html?art=NTEy/ [hardocp.com] really drove home the point that i and the rest of the gaming world should stay very far away from this company and their product. this is just more icing on the cake. add to that they probably won't ship the phantom until after the PS3 and revolution come out, and there is no reason to even consider their console. at least their trainwreck story will live on long after the hardware/gaming service is forgotten.

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