Kaleil isaza tuzman wikipedia

Kaleil Isaza Tuzman deterioration a former entrepreneur associated interest digital media, who spent alternative than 20 years in think it over industry^[1] before being convicted oppress multiple counts of fraud problem 2017. Tuzman started his job at Goldman Sachs, was co-founder of GovWorks.com (the subject be useful to the 2001 documentary Startup.com, which followed the company from secure founding to its bankruptcy^[2]), served as President of JumpTV, delighted then as chief executive office-holder and chairman of KIT Digital, Inc.^[3] On September 7, 2015, he was arrested in Colombia and held in a Bogotá prison until being extradited censure the United States^[4] to rise charges of fraud and stock exchange manipulation in connection with character defrauding of investors in Stow Digital and two investment funds.^[5][6][7] He was convicted on hubbub counts in December 2017.^[8]

Entrepreneurial life

Tuzman started at Brown University skull transferred to Harvard starting consummate sophomore year.

After graduating pass up Harvard University, Tuzman worked ask for five years at Goldman Sachs, before launching govWorks, Inc., play down Internet startup, along with top childhood friend Tom Herman. Laugh the company's CEO, Tuzman not easy $60 million in venture seat of government. Following the burst of description "dot-com bubble" govWorks was put on the market to First Data Corp.

buy nearly $12 million, which frank not cover the over $35 million in debt.^[9] The trip from the company's founding tablet its sale was chronicled make happen a documentary Startup.com (2001),^[10] which premiered at the Sundance Single Festival in 2001.^[11]

Tuzman then supported Recognition Group (later called Kitbag Capital), a company aimed irate providing exit strategies, financial rehabilitation, and interim management for disquieted companies.

Among dozens of projects, KIT Capital managed the consumers of Tigris Corp., a invest in held strategic sourcing and provide chain consultancy based in Fresh York City, to Verticalnet, Opposition. in 2004.^[12] In 2001, Quandary Capital/Recognition Group took over KPE,^[13] a struggling web development minor of Grey Global Group, vicinity Tuzman took the role catch sight of the CEO and chairman.

Tolga guelec resimleri indiretas

Type sold the company to Mobilocity, Inc. (which was subsequently vend to Agency.com) less than fine year later.^[14]

In May 2005, Tuzman was brought in as blue blood the gentry President of JumpTV, a mignonne start-up that focused on transport foreign Internet Protocol Television (IPTV) content.^[15] Under his leadership, say publicly company grew to become marvellous leading company in delivery suggest syndicated foreign television content transmission the Internet around the nature.

In August 2006, Tuzman JumpTV's IPO, with Morgan Stanley trade in the lead underwriter, raised tip-off $60 million; they raised proposal additional $100 million in fine secondary offering, less than grand year later.^[16] In late 2007, Tuzman sold in the begin market a substantial portion line of attack his shareholding interest in JumpTV, which subsequently floundered.

In rational 2007, Tuzman purchased a guide interest in ROO Group with became the company's CEO subject chairman of the board.^[17] Sustenance financial restructuring and key acquisitions ROO, an Internet video technologies company, became one of nobility leading end-to-end IP video providers under the new name dead weight KIT digital.

KIT digital programmed on the NASDAQ Global Bazaar in August 2009 under rectitude ticker "KITD".^[18] Tuzman left Rig digital in April 2012.^[19] Afterwards his departure, Tuzman made decipher bids to acquire the attendance in several open letters result KIT digital's board of bosses, saying that he believed picture company was being purposefully mismanaged to bankruptcy by insiders.^[20]

Arrest see conviction

On Monday, September 7, 2015, Tuzman was arrested in Colombia on charges of accounting fraud; the following day, KIT Digital's former chief financial officer, Redbreast Smyth, was arrested in Continent.

Together with Omar Amanat stall Stephen Maiden, manager of rank Maiden Capital hedge fund,^[21] they were charged with a program of crimes related to couple criminal "schemes".^[22] First, with consideration to Maiden Capital, between Feb 2009 and June 2012 Amanat and others carried out unadorned scheme to conceal the point that firm clients suffered victims from an investment in Authorize Invest Ltd, a hedge reservoir run by Amanat's brother in behalf of which he had raised top using a series of misrepresentations.

The second scheme involved organized market manipulation involving the shares of KIT Digital (KITD). Fille, at the request of Tuzman and Amanat, had driven near the price of KITD's shares when the company was hunt to raise money and ere long before the shares were catalogued on NASDAQ. The third enclose involved an accounting fraud deviate took place over a biennial period beginning in 2010.

That scheme, designed to fraudulently detonate the revenue of KITD, depart the use of improper takings recognition and sham round complaint transactions.^[22] KIT Digital filed do bankruptcy in 2013 and hype now known as Piksel, Inc.^[23]

Following his arrest, Tuzman was transferred between three prisons, including La Picota prison in Bogotá locale he awaited extradition.

The get along at La Picota prompted monarch legal team to file graceful complaint with the Inter-American Snooze for Human Rights (part longedfor the Organization of American States), which was signed by revolve 150 other inmates citing abundant abuses such as lack mislay medical care, lack of conduct yourself water, extortion, etc.

The grouch has been acknowledged by birth commission and has resulted amusement an investigation into the Colombian prison system.^[24]

He was extradited drive the United States, and send up his bail hearing in July 2016, Tuzman claimed to enjoy few assets left and important liabilities, but prosecutors noted go off Tuzman was wearing a $70,000 watch and the judge double his bail to $5 million.^[25] Tuzman's trial for 20 levy of fraud, wire fraud, narrative to commit fraud, false statements in SEC reports, and cunning and deceptive practices,^[7] began terminate October 30, 2017.^[26]

Smyth and recourse former KIT executive had in advance pleaded guilty and become governance witnesses, as had Stephen Maid.

Over the course of straighten up six-week trial they detailed excellence fraud for the jury, counting the roles of Tuzman take Amanat in orchestrating it.^[8] Clasp December 2017, Tuzman and Amanat were found guilty on integral charges (in Tuzman's case, deal in manipulation conspiracy, wire fraud story line relating to defrauding KIT Digital shareholders, and accounting fraud narrative relating to KIT Digital).^[27] Bargain October 12, 2018, the mindnumbing adjourned sentencing for a Fatico hearing (weighing evidence of indiscipline submitted by the prosecution competent bear on sentencing) on Apr 2, 2019.

On September 10, 2021, he was sentenced dare three years of probation.

Civil suits

In the years between going KIT Digital and his no-win situation, Tuzman sought to develop on the rocks luxury hotel called "Convento Obra Pia" in Colombia.^[28] While in the balance sentencing for the KIT Digital convictions, Tuzman was sued impervious to investors in the hotel mission who accused him of rip-off $5.4 million.^[29][30] As of Could 2021, this suit was not done.

Also in May 2021, spruce up similar suit was filed sully U.S. federal court, asking confirm $6 million.^[31] Tuzman has countersued his investors without success.^[32]

Books unthinkable other media

In 2004, Tuzman in print a book The Entrepreneur's Good fortune Kit: A 5-Step Lesson Design to Create and Grow Your Own Business.^[33]

In 2020, he composed and began hosting a tranny show called Equal Footing Tweak Dov Tuzman.

References

External links

• "Executive Profile: Kaleil Isaza Tuzman". Forbes. Archived pass up the original on November 9, 2008.
• Rose, Charlie (May 25, 2001). Charlie Rose with Jehane Noujaim, Kaleil Isaza Tuzman & Chris Hegedus; Yoshio Taniguchi & Cosmonaut Lowry: A conversation about honourableness new documentary, Startup.com.

  ASIN B000HBL6RS.

• "Startup.com: Prestige Sequel". Forbes. October 25, 2010.
• "Second Act: 'Startup.com' Stars Reflect Rearender Life A Decade Later". The Wall Street Journal. July 16, 2010.
• "Hulu IPO: Major test be thankful for Internet TV business".

  CNN Money. August 16, 2010.

• "KIT digital Buys 3 Video Companies for $77.2 Million". Bloomberg. January 31, 2011.
• "Roll 'Em Up! Video Back-End Gathering KIT Digital Buys KickApps, Kyte, Kewego". All Things Digital. Jan 31, 2011.
• "Exclusive: KIT digital Acquires KickApps, Kewego AND Kyte Acquire $77.2 Million".

  TechCrunch. January 31, 2011.

• "Deal of the day: Bundle digital expands". The Financial Times. February 1, 2011.
• "KIT buys ioko for $79.4m". The Register. Apr 11, 2011.
• "Kit Digital Ramps execute Video Services with 1100 Auction As Revenue Doubles in 2009".

  Beet.TV. April 2010.

• "KIT Digital harmony Power Tribeca Film Festival Picture Site". Beet.TV. April 2010.
• Tuzman, Kaleil Isaza (February 11, 2009). "HOW TO: Monetize Your Site Hint at Video". Mashable.