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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
Download the Complaint here.
NEW LAWSUIT AGAINST ROB BRAZELL FILED IN DALLAS FOR FRAUD, FRAUDULENT INDUCEMENT, CONSTRUCTIVE TRUST AND BREACH OF CONTRACT
Robert Brazell's legal woes seem endless. Yet another lawsuit was filed in the District Court of Dallas County by former business partners and investors.
The lawsuit was filed against Robert Brazell and others by former business partners and investors who provided In-Store Broadcasting (IBN) with $500,000 needed "in order to honor its contractual obligations and preserve its business relationship with The Kroger Company."
The lawsuit continues that "although Plaintiffs fully performed by tendering the $500,000, they have never received the stock certificates," or contractual payments. The causes of action include "fraud and fraudulent inducement" due to representations made by Rob Brazell when they agreed to make the loan and investment. The Plaintiffs also question whether Rob Brazell or other defendants misrepresented and/or failed to disclose the true circumstances surrounding the need for and intended use of the funds.
The lawsuit against Robert Brazell also claims "constructive trust" — due to claims that Brazell transferred assets of IBN to other entities owned or controlled in whole or in part by Rob Brazell, then distributed funds derived from sold assets to the same—leaving investors in the cold.
In lawsuit after lawsuit filed against Rob Brazell, it seems a common thread of fraudulent inducement can be found. (See Robert Brazell Modus Operendi.)
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."
UPDATE SEPTEMBER 09
Trial Jury Has Been Reset for February 2015 in Dallas, Texas
A trial by jury has been re-set in this case from the original date of April 7, 2014 to February 2015. This is the second time the date has been reset. It is expected to commence at 9:00 am in Judge Dale Tillery's courtroom in the 134th Judicial District Court in Dallas, Texas.
Robert Brazell to Be Deposed Again in Dallas, Texas Lawsuit
Defendants Robert Brazell and Von Whitby are scheduled to be deposed in Dallas, Texas at 9:00am CST, Wednesday, September 10 and 11.
UPDATE OCTOBER 20
More Depositions Expected for Robert Brazell
It is expected that Robert Brazell will be deposed at least two more time in Texas and again in Utah after walking out on the second day. Rob Brazell is currently scheduled to be deposed on Tuesday, October 28th and Friday, November 7th. His Utah deposition date is expected to be announced shortly.
UPDATE FEBRUARY 09
Jury Trial Set for February 23rd in Dallas Texas
A jury trial has been set for February 23, 2015 in Dallas, Texas in the Fraud Lawsuit filed against Robert Brazell. The lawsuit also claims fraudulent inducement and constructive trust due to claims that Rob Brazell made illegal asset transfers.
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.
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