Infinium Labs in Trouble Again

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."

Comments

Obvious

[Red Flayer]

So, /. previously covered Roberts's mob ties.

When someone with mob ties has a crappy business that seems to lose a lot of money, or makes a substandard product with unexplained sales, what do the feds normally think?

Money laundering.

I know it's what I'm thinking.

Anyone suprised?

[GrandCow]

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."
I'm sorry, maybe I missed something but I was under the impression that every single person on /. knew that this product was bogus.

Is there anyone on this forum that honestly believed it would come out?