This case just gets worse and worse. The remaining executives seem to be rallying around the missing head of Barton Watson and looting the company while they can. Creditors are filing lawsuits left and right but, surprise, there’s no money left. Why?
[CyberNET’s Chairman Jim] Horton said he doesn’t have any money to pay creditors; and yet, just before Watson killed himself during a standoff with police last week, Horton wired money into his own bank account. One million dollars of that money went to an office in Hong Kong. $750,000 went to Barton Watson’s mother. Another $20,000 went to Barton’s wife Krista, with Horton’s wife Angie receiving $20,000.
Right. Since his golden parachute got a hole shot in it, Horton is now screwing the creditors out of everything he can get.
Prison is too good for people like this.
Link to quoted story
Link to Watson 911 tapes
Link to Watson suicide story
Employee reaction
Employees to get no more checks
CybrNET was a “Ponzi” scheme – mLive
CyberNET’s final employee newsletter (news story, no actual newsletter)
Employees return to work after raid
Barton a “true con man”, and OCD, apparently
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