Former Argo Digital Execs Accused Of Defrauding Investors

Law360, New York (September 17, 2012, 5:46 PM EDT) -- Former executives of Argo Digital Solutions Inc., a defunct Florida marketing technology business, transferred company assets to a shell entity, obtained fresh capital and left original Argo investors with worthless positions, according to a derivative suit filed Friday in New York federal court.

Argo CEO Jason M. Kates, Chairman Richard J. Sullivan and Senior Vice President David A. Loppert perpetrated the fraud after getting into disagreements with the investor-plaintiffs, who owned a large amount of the company's share capital, according to the complaint suit filed by...
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