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To: Clarksterh who wrote (140042)	11/5/2005 9:03:18 AM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

Text of (part of) that tinyurl.com piece .......................... The story of a wireless Internet Holy Grail BY MICHAEL POLLICK (Page 3) . . . feds to peruse. Mooers' firm also has legal action pending with the first two chief executives who ran iDigi. Thomas Heimann, who co-founded iDigi, left after a year as its CEO and has filed suit against Mooers et al., claiming he was deprived of a huge chunk of stock that would make him the second-largest shareholder after Mooers. When Heimann walked, Richard Mooers sent in one of his partners, Kevin Flessner, to straighten iDigi out. Within a year, Flessner also had left, and Mooers has since sued him, claiming he misappropriated funds. At the center of this legal vortex, trying to sort it all out, is McHale, the receiver appointed in April by a federal judge in Tampa to run iDigi temporarily. The Naples accountant, who has his own forensic accounting team, frequently takes on the receiver role. His involvement is a direct result of the suit from Icelandic pension fund Lifeyrissjodur Nordurlands, or LN, and its affiliate, a Belgian stock holding company. The suit was filed April 23 in Tampa's federal court and, the next day, a judge put McHale in charge. In her order, federal Judge Elizabeth Kovachevich said, "There are sufficient badges of fraud present to justify appointment, including the transfer of valuable patents." The pension fund's lawsuit alleges that iDigi and Mooers committed fraud when they induced the fund to invest $10 million in iDigi. Beyond that, the fund's managers alleged iDigi was engaged in a shell game. They said that Mooers caused iDigi to transfer the rights to the key technology to a separate new company started by Mooers and called Island Labs L.L.C. Mooers set up Island Labs far from the scene of all the turmoil, on Cudjoe Key, halfway between Key West and Miami -- a site Bobier picked as a condition for continuing to work on behalf of iDigi. Mahogany in Marbeya When Richard Mooers describes the Marbeya, Spain, offices of N.C.R., he seems to have been most impressed with the mahogany trim. N.C.R.'s co-founder, Chris Zafiroff, "had an extremely nice office," Mooers recalls. "He had a trading floor with a bunch of desks with people with phones." But despite its amenable surroundings, N.C.R. was a boiler room operation in a town that is the modern financial equivalent of the Wild West, according to former employee Marc Dannenberg. The old term "boiler room" means a place filled with desks and phones manned by salesmen ... Continued

To: Clarksterh who wrote (140042)	11/6/2005 6:09:03 PM
From: carranza2	Read Replies (1) \| Respond to of 152472

I read the suit. Well, perused, since it is a 139 page document. What a sordid tale of chicanery on part of Mooers, et al, that docmuent describes. Pure sleaze. The judge handling it granted the plaintiffs' request for a receiver more or less immediately on the strength of its allegations. This kind of action is quite rare. Nonetheless, the Nordic investors who sued were careful not to diss the technology, stating in one part of the complaint that it was immensely valuable or something along those lines. I think that even if it has a kernel of usefulness, the technology is so, ah, "revolutionary" and has been associated with enough bad eggs that it will be held to a severe standard.