Guccione Zeroes in on Penthouse, iBill and Others in Suit.......
 

NEWS STORY from XBIZ
the link http://xbiz.com/news_piece.php?id=12419 or the story

Guccione Zeroes in on Penthouse, iBill and Others in Suit
By Rhett Pardon
Tuesday, December 27, 2005

NEW YORK ? Penthouse founder Bob Guccione has filed suit in New York County Court, claiming that Penthouse Media Group and its executives drove his empire into bankruptcy.

Guccione says the group owes him severance of $7.5 million plus legal fees, so far.

Guccione claims that rather than reorganize his financially troubled General Media International, he allowed the Penthouse executives to acquire it and reorganize, on the promise they would let him keep his townhouse, pay him $1 million a year for 25 years and pay him $15 million if they failed to perform.

In the 37-page complaint, Guccione names defendants Charles Samel, a former employee, and Jason Galanis, a consultant, among those who defrauded him and drove his company into bankruptcy.

He also alleges that defendants Marc Bell and Daniel Staton purchased Penthouse Media Group out of bankruptcy and now refuse to pay Guccione money owed.

The suit claims that another defendant, Luis Enrique Molina Galeana, aided and abetted the alleged frauds, using the defendant corporations, Penthouse International Inc. and iBill, to do so.

After the acquisition, Guccione alleges, the group refused to pay him once they had control of the new company.

In the filing, the complaint describes the considerable debts Guccione and his companies had run up before he ceded control, including ?a $50 million art loan that was in default,? and his townhouse, also in default.

Calls from XBiz to Guccione's attorney, Jamie Brickell, were not returned early Tuesday.

Nice link!! :thumbsup

The names are all the usual scammers and their "associates" - shit, it never ends!

YES , it appears so !!! Also it has implications for some people promoting current programs. Innocent till proven Guilty, but forewarned is forearmed :2 cents:

You may already be aware JFK, but here's some history links to the names, Galanis and Doc Molina...

http://www.ripoffreport.com/reports/ripoff51084.htm

http://www.forbes.com/ebusiness/2004...tml?partner=ya

http://********.com/read.aspx?ID=2814

http://www.keepmedia.com/pubs/Forbes...ba=m&bi=2&bp=7

http://www.prnewswire.com/cgi-bin/st...2183132&EDATE=

http://www.forbesimg.com/2000/09/20/0920galanis.html


Dunno why anyone would think there is anything in common between the Galanis family and the Mexican Doc (Mr Money Holder)... he only had a ten minute chat and coffee with Galanis in February 1978 :1orglaugh

Seems that the hole for Ibill is getting deeper and deeper.

ooooh more info on this please

just read the article , very... very... carefully ............hopefully it will come to you :winkwink:

BTW JFK... Do you know the outcome of the SEC case against Galanis and Samuel where they tried to con an extra million and faked Bob Guccione's signature on the company accounts?

Wow he was involved with the Gambino family... I'm out of this thread

If Bob wins this case there will be less than shit available from Iball's to pay webmasters?

No was'nt aware of that.

Some interesting reading,
thanks JFK for the link.

Here's some links from the time of the SEC filing, but never traced the outcome yet...

http://www.sec.gov/litigation/litreleases/lr19048.htm

and under the heading: Penthouse Execs Accused of Accounting & Sarbanes-Oxley Violations

http://lawprofessors.typepad.com/whi...og/2005/week4/

Pleasure Jimmi :thumbsup

Fucking crazy.

Just shows you who's looking after YOUR money.. No wonder Iball's is in such a fucking mess..

Bump Bump Bump

Makes me wonder how long before Guccione 'mysteriously' disappears, or winds up in the harbour wearin' concrete loafers.

Such a tangled web of shady characters - reads like a movie-of-the-week.

sometimes, truth is stranger than fiction :2 cents: