Infinium CEO Facing Fraud Charges

The SEC hs announced that it has charged former Infinium Labs CEO Timothy Roberts with fraud for his complicity in attempting to fluff the company's stock. Roberts, according to the SEC was involved in junk fax campaign that drove up Infinium's stock. Robert's reportedly made some $400,000 on the pump and dump swindle. A key player will no doubt be stock promoter Michael Pickens, who was hired by Roberts in 2004 to run the fax marketing campaign, which touted the release of a vaporware (as in non-existent) video game system aptly named Phantom. Roberts looks to be contesting the charges. Infinium has previously defended its good name by filing suit against online gaming news sites that alledged that the non-existent Phantom, was in fact, nonexistent.

More details on the charges against Roberts can be found here.

-- MDT