As Seen On...
Forbes Best of the Web Summer 2005
View Press Release

Site search Web


Previous Posts


Friday, November 04, 2005

Infinium Labs Under SEC Investigation, Phantom Still Vapor

Infinium Labs Under SEC Investigation, Phantom Still Vapor

"At E3 2004, the last time Infinium Labs championed the Phantom game console at a public event with significant gusto, the show was blanketed with fliers, banners, and t-shirts that read, "I believe."

The shirts even glowed in the dark.

Now, it's not just gamers that believe (if they do), it's also the U.S. Securities and Exchange Commission, which is investigating Infinium Labs for possible transgressions under its former CEO, Tim Roberts. Except it's not the Phantom they believe in, but the possibility that Infinium Labs didn't keep accurate tax and payroll records.

According to the government, Infinium Labs owes upward of $1.2 million in fees and interest.

Infinium Labs' current CEO Kevin Bachus told EuroGamer in an interview that the fine would not jeopardize the Phantom console or Infinium Labs, which was working with the U.S. Government to establish some sort of payment plan to rectify the situation.

At the same time, the government is investigating former Infinium Labs CEO Tim Roberts on charges unrelated to the company, or the Phantom console. What those charges are, though, is not yet known." [link]

Post a Comment

Subscribe in NewsGator Online
eXTReMe Tracker