A commenter on Russell’s earlier post about Gizmondo execs and their interesting management payment plans turned us on to a little further scandal earlier in the week regarding some previous extracurricular activities of some of their executive team — apparently some of them had done some time in Sweden for fraud and organized crime.
In an SEC document that came out this week (but was dated October 20), the two that went to jail resigned along with Gizmondo Europe’s MD, who had earlier reimbursed the company for some of the expenses paid to him, his wife and companies to which he was connected that Russell pointed out in his first post.
It’s an interesting soap opera. Just a shame it’s more interesting than any of the company’s actual business.