Major Investor Sues Cheyenne Mountain Entertainments Gary Whiting.

Tags: in

Updated Tue, Sep 15, 2009 by Medawky

Founder and principal owner of Cheyenne Mountain Entertainment, Gary Whiting, has been sued for fraudulence in the matter of finances by one of the major investors. CME is best known for it's attempt to publish an MMOG under the Stargate license, but the project never saw the light of the day. This most recent development is just the latest in a long line of setbacks and troubles that have plagued the fledgling studio throughout this process.

Full lawsuit filing documents are available for your perusal.

Here is the face sheet of the lawsuit:

And of course, here is a snippet of some of the juicier bits of the lawsuit:

Quote:

15. Within the first month of launching, Mmoguls, Inc. brought in
approximately $900,000.00.
16. This money was to pay for the commissions earned by affiliates as well as
operating costs of the company.
17. Brent Barton requested approximately $400,000.00 to pay the earned
commissions and operating costs of the company.
18. Vision Bankcard released the money to the accounts authorized by Gary
Whiting.
19. Brent Barton and Gary Whiting began writing checks from the Mmoguls,
Inc. account to pay the commissions earned by Mmoguls affiliates.
20. I discovered that the checks that Mr. Barton and Gary Whiting had signed
were bouncing due to Insufficient funds in the Mmoguls, Inc. account.
21. After discussions with officials at Vision Bankcard and Brent Barton, I
learned that Gary Whiting had transferred the money from the Mmoguls,
Inc. account to his own personal accounts and that the money had been
used for Gary Whiting's personal use.
22. In all, Gary Whiting took at least $350,000.00 from Mmoguls, Inc.
unbeknownst to anyone else, including the CEO, Brent Barton.

Keep checking back for the latest as the CME saga continues to play out.