Wi-Fi Co. Sued Over $7M In Allegedly Fraudulent Leases

By Margaret Harding McGill (January 28, 2016, 8:01 PM EST) -- An equipment lender sued a company that supplies Wi-Fi to sports stadiums for defaulting on an agreement to pay back more than $7 million over allegedly fraudulent leases in a Massachusetts federal court on Thursday.

NFS Leasing said it initially financed more than $5 million in equipment in connection with equipment leases with SignalShare, which provided Wi-Fi to the Sacramento Kings' arena, the Detroit Red Wings' arena and other professional and collegiate sports stadiums. But following the "legitimate lease transactions," SignalShare began requesting financing from NFS for purchasing equipment for fictitious contracts, eventually obtaining nearly $5 million more in financing, the...

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