Video Games Co. Founder Hit With SEC Fraud Suit

Law360, New York (September 25, 2013, 7:20 PM EDT) -- The founder of a Christian-themed video game manufacturer and an accomplice have been hit with a fraud suit by the U.S. Securities and Exchange Commission, which accuses the men of falsely inflating the failing company’s revenues through a circular kickback scheme, the commission said Wednesday.

Left Behind Games Inc. CEO Troy Lyndon is accused of issuing almost two billion shares of stock to purported consultant and co-defendant Ronald Zaucha pursuant to a deal where Zaucha sold off millions of unregistered shares and then kicked back most...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.