Thank you for supporting First Amendment Rights! This site has become a source of news and information for thousands of readers in over 74 countries.
THE WORST BUSINESS CEOS IN AMERICA
Mired in financial and legal trouble, Talos Partners CEO, Robert V. Brazell tops our list
NEWS TO HELP INVESTORS AVOID TAKING A BEATING
New Amended Complaint filed in Utah Securities Fraud Lawsuit against Robert V. Brazell, Robert Kasten, Von H. Whitby and other Defendants.
The Specific Fact Allegations of Fraud begin on Page 11 of the PDF.
A copy of the original complaint filed on 2013-04-01. The amended complaint includes In-Touch Media as a defendant.
Although he posted a net worth of $12.7M on InspiredRoad.com, today Rob Brazell claims to have no money.
Rob Brazell's Notice of Deposition and Demand to Produce
Talos Partner's Notice of Deposition and Demand to Produce
ROBERT v. BRAZELL, FORMER SENATOR ROBERT KASTEN AND OTHERS NAMED IN INVESTMENT FRAUD AND SECURITIES VIOLATIONS LAWSUIT
Robert V. Brazell, former CEO of Overstock.com and current Chairman/CEO of Talos Partners is finding it challenging to stay out of harms way. Last year his CFO, Mark Oleksik went after him with a baseball bat. Today, 42 investors, former partners, and even family members (including two brothers, a brother-in-law, and his father-in-law) are wielding the rule of law over the Talos Partner’s head. Rob Brazell and Members of the Talos Board of Directors, including Von H. Whitby and former United States Wisconsin Senator Robert Kasten have been named in a fraud lawsuit. Additional defendants include; Robert E. Riley, Rob Wolf, Robin Nebel, In-Store Broadcasting Network, LLC., In-Store Broadcasting Holdings, LLC., and in the forthcoming amended complaint; Mark Oleksik In-Touch Media, and IBN Media LLC.
The suit, brought by an investment group with 42 members from around the country, is claiming Violation of Utah Uniform Securities Act, Fraudulent Misrepresentation, Fraudulent Inducement and Rescission, Promissory Estoppel, Civil Conspiracy, and Common-Law Fraud. The lawsuit names Robert V. Brazell, Von Whitby, and Robert W. Kasten Jr., and others as defendants, as well as associated entities, and was originally filed by one of Utah’s largest and most respected law firms, Ray Quinney & Nebeker.
Investors have paid a heavy price for Robert V. Brazell's alleged mismanagement of the business, currently taking losses as high as 98% on their monies in the In-Store Broadcasting Network (now In-Touch Media), while Rob Brazell self-dealed his way into substantial profits.
Additionally, after selling the company's audio assets to POP Radio last year, Rob Brazell further damaged investors by first, negotiating a reduction of monies deposited in an escrow account from the sale, and second, removing those monies to enrich himself rather than distributing them to investors as stated. Robert V. Brazell had written the following to investors after the POP Radio closing; "Finally, $500,000 of the sales proceeds have been retained in escrow for 18 months as an offset against possible indemnification claims under the sales agreement. Therefore, we anticipate an additional distribution to you as these matters are resolved." Rob Brazell struck a deal with POP Radio to have the monies in the escrow account dramatically reduced by 50% to $250,000, so that he could take the money out prematurely, then refused to distribute any of the proceeds to investors. Both POP Radio and Robert V. Brazell were aware of the pending litigation, and it is expected his actions were taken to avoid having a lien placed on the funds by investors seeking to re-secure a portion of their original investment.
POP Radio has become involved in the suit due to ties with one of the entities named. It is not clear if POP Radio will be liable for allowing Rob Brazell to remove the monies from the escrow account prematurely or not, but discussions between legal representatives for POP Radio and RQ&N are expected.
Robert V. Brazell has claimed for a long time that he has been in discussions with Sony, Convergent Media, Valassis Media, and Kroger Stores in regard to the video business. It is unknown what he is attempting to accomplish or what the status of those discussions may be. It remains unclear whether or not Sony, Convergent Media, Valassis Media, or Kroger Stores are aware that a lawsuit has been filed. There has been no comment from the entities legal counsels as of May 9, 2013 with the plaintiff's legal counsel.
Appearances can be deceptive. While the self generated pages of InspiredRoad.com recently noted that Robert V. Brazell had listed his net worth as $12.7 million, a Texas lawsuit filed just one year ago reported that Mr. Brazell was so broke that he had to borrow money to help pay for his own wedding, then had to be sued in order to recover the money later. Rob Brazell also claimed he purchased properties in New York City and Dallas (where he also claimed to have business offices). Records of Mr. Brazell purchasing property in those states could not be found, and it is alleged that Talos Partners was evicted from 667 Madison in New York City for non-payment of rent. No legitimate office location could be confirmed for Talos Partners in Dallas or Beverly Hills, although they recently claimed to have an office in both locations on their website.
Robert V. Brazell was also allegedly forced from his apartment in one of the Trump properties in New York City for non-payment of rent, and his primary residence in Salt Lake City, Utah was listed as a short sell on UtahForeclosures.com.
We invite Rob Brazell to provide proof that is contrary to any statements made on this website.
Today, Rob Brazell claims to have no money to settle litigation claims.
The Plantiffs against Robert V. Brazell, Talos Partners and associated individuals and entities will seek to recover damages from any and all remaining assets under Rob Brazell’s control including assets yet to be confirmed in the following entities; Talos Partners, In-Store Broadcasting Network, In-Touch Media, liveglobalbid.com, viniq.com, Medical Intelligence, Personalized Medicine, Insight Labs, Insight Alpha Labs, Archipelago, Yakomoz, Summit Series, Singularity Institute, Rhinoceros, Enorme, BWT Partnerships, Lifeboat Foundation, Hans Lollic & Little Hans Lollic Developments, Personalized Education, 20 Under 20, Powerband Global, or Stilk.com.
Expert Finds Similarities In Lawsuits Not Accidental, But Modus Operandi of Robert V. Brazell—Tantamount to Securities Fraud
An expert with over 50 years of legal and SEC expertise finds the allegations in the Utah Investor Fraud lawsuit "are quite similar…" He continues, "I am of the opinion that the similarity between the Utah Lawsuit and this one is not accidental, but portrays a modus operendi of the Defendants (Robert) Brazell and IB Holding that further supports an allegation of fraud. I am also of the opinion that the misconduct of the Defendants (Robert) Brazell and IB Holding is also tantamount to securities fraud."
JANUARY 30, 2014 Update
Once More Rob Brazell Avoids Discovery and Depositions
As readers of WorstCeos are aware, Robert V. Brazell refused to provide ordered discovery and depositions in a lawsuit in Texas ultimately resulting in a warrant for his arrest. Now in Utah, Rob Brazell, Robert Kasten and the business entity defendants have again postponed discovery and depositions just two days before discovery was due.
APRIL 1, 2014 Update
Scheduling Order Finalized Between Attorneys
A formal scheduling order has been finalized between the plaintiffs and defendants legal counsel and is now set to move forward to trial in late 2014.
MAY 24, 2014 Update
Securities Fraud Lawsuit Ready for Trial in October 2014
Per the above scheduling order, both sides should be prepared for jury trial no later than October 2014.
JULY 1, 2014 Update
Robert Brazell Deposed for Almost 4 Hours, But Walks Out Day 2
Robert Brazell finally appeared for his deposition on Monday, June 30 and was deposed by Plaintiff's counsel Mr. Donald Flanary for almost 4 hours. Robert Brazell stood up and walked out after only 6 minutes on the morning of day two.
OctOBER 30, 2014 Update
Attorney's for Plaintiffs in Utah Fraud Lawsuit to Seek Additional Depositions Immediately
After Robert Brazell walked out on day 2 of depositions, attorney's for over 40 plaintiffs in the Utah Fraud Lawsuit have been preparing for additional depositions of key defendants including Robert Brazell, Von H. Whitby, Robert Kasten, and Mark Oleksik.
DECEMBER 6, 2014 Update
Plaintiffs File New Amended Complaint Detailing Fraud
The Plaintiffs have filed a new extremely detailed complaint inclusive of email strings that clearly define the fraud and other allegations in the Utah lawsuit. Click here to download the complaint.
JANUARY 21, 2014 UPDATE
Robert Brazell Deposed Again
Robert Brazell was deposed again in the Utah Investor Fraud Lawsuit in Salt Lake City, Utah at the law firm of Pia Anderson Dorius Reynard & Moss.
JANUARY 22, 2014 UPDATE
Judge Andrew Stone Releases Memorandum Decision
The judge denied the motion to amend the complaint and sited a lack of particularity required under Rule 9, and dismissed with prejudice as to the moving defendants. The Plaintiffs will appeal.
FEBRUARY 20, 2014 UPDATE
Plaintiff's In The Utah Fraud Lawsuit File Notice of Appeal
Fourty-eight (48) plaintiffs in the Utah Fraud Lawsuit have filed a Notice of Appeal through their attorneys in the Third Judicial District Court. Appellants appeal the Memorandum Decision in its entirety, including: i) the Trial Court's denial of Appellants' Motion for Leave to Amend; and ii) the Trial Court's grant of certain defendants' Motion to Dimiss Under Rule 12(b)(6).
Forbes says a CEO should above all protect investor share value
Robert V. Brazell tops our list of small business CEOs that fails time and again to provide returns, while living high off investor's money. Now mired in legal and financial trouble, the truth about Rob Brazell is finally reaching the market where potential investors can make better and more informed decisions before putting their money at risk.
COPYRIGHT 2014 WORST CEOS.COM ALL RIGHTS RESERVED. ALL INFORMATION IS THE EXPRESS OPINION OF WORST CEOS.COM UNLESS OTHERWISE NOTED.